Intech Investment Management LLC Has $2.76 Million Stock Position in Sun Life Financial Inc. $SLF

Intech Investment Management LLC raised its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 115.3% in the 4th quarter, HoldingsChannel reports. The fund owned 44,208 shares of the financial services provider’s stock after purchasing an additional 23,672 shares during the period. Intech Investment Management LLC’s holdings in Sun Life Financial were worth $2,763,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Sun Life Financial by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 25,884,084 shares of the financial services provider’s stock valued at $1,615,788,000 after purchasing an additional 534,772 shares during the period. Geode Capital Management LLC grew its stake in shares of Sun Life Financial by 6.7% in the 4th quarter. Geode Capital Management LLC now owns 5,529,609 shares of the financial services provider’s stock valued at $353,181,000 after purchasing an additional 347,041 shares during the period. Legal & General Group Plc grew its stake in shares of Sun Life Financial by 1.0% in the 4th quarter. Legal & General Group Plc now owns 3,896,312 shares of the financial services provider’s stock valued at $243,542,000 after purchasing an additional 36,698 shares during the period. Scotia Capital Inc. grew its stake in shares of Sun Life Financial by 6.3% in the 3rd quarter. Scotia Capital Inc. now owns 3,303,733 shares of the financial services provider’s stock valued at $197,709,000 after purchasing an additional 196,675 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in shares of Sun Life Financial by 9.8% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,733,974 shares of the financial services provider’s stock valued at $164,120,000 after purchasing an additional 243,323 shares during the period. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Price Performance

NYSE SLF opened at $72.66 on Wednesday. The firm has a market cap of $40.26 billion, a PE ratio of 18.73 and a beta of 0.89. Sun Life Financial Inc. has a one year low of $56.22 and a one year high of $74.16. The stock’s 50 day simple moving average is $68.63 and its 200 day simple moving average is $64.69.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.41 billion for the quarter, compared to analyst estimates of $925.99 million. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.During the same period in the prior year, the company earned $1.82 EPS. As a group, equities analysts expect that Sun Life Financial Inc. will post 5.74 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Wednesday, May 27th will be given a dividend of $0.96 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. The ex-dividend date is Wednesday, May 27th. This represents a $3.84 dividend on an annualized basis and a yield of 5.3%. Sun Life Financial’s dividend payout ratio is currently 72.94%.

Analyst Upgrades and Downgrades

SLF has been the topic of several analyst reports. TD Cowen reiterated a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. Wall Street Zen lowered Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Friday, April 24th. Evercore reiterated an “outperform” rating on shares of Sun Life Financial in a research note on Thursday, February 19th. Finally, TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $86.50.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.