OMERS ADMINISTRATION Corp Takes Position in Sun Life Financial Inc. $SLF

OMERS ADMINISTRATION Corp bought a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 253,687 shares of the financial services provider’s stock, valued at approximately $19,911,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC acquired a new stake in Sun Life Financial during the 1st quarter worth $25,000. Cornerstone Planning Group LLC increased its stake in Sun Life Financial by 68.4% in the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 167 shares during the period. Brown Brothers Harriman & Co. acquired a new position in Sun Life Financial in the fourth quarter valued at $30,000. Sittner & Nelson LLC purchased a new stake in shares of Sun Life Financial in the fourth quarter valued at about $33,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Sun Life Financial during the first quarter worth about $33,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Up 0.1%

Shares of NYSE:SLF opened at $79.07 on Monday. Sun Life Financial Inc. has a 52 week low of $57.22 and a 52 week high of $84.38. The company has a 50-day moving average price of $80.21 and a 200 day moving average price of $72.23. The company has a market cap of $44.07 billion, a P/E ratio of 18.48 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. The company had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $994.33 million. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. Analysts expect that Sun Life Financial Inc. will post 5.72 EPS for the current year.

Sun Life Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Wednesday, August 26th. Sun Life Financial’s dividend payout ratio is currently 66.12%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SLF. TD Cowen reissued a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. Wall Street Zen raised Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. Evercore cut Sun Life Financial from an “outperform” rating to an “in-line” rating in a research report on Monday, July 13th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a research note on Monday, August 10th. Finally, BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Sun Life Financial currently has an average rating of “Moderate Buy” and a consensus price target of $96.33.

Sun Life Financial 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.