Jupiter Topco LLC Buys New Stake in Sun Life Financial Inc. $SLF

Jupiter Topco LLC purchased a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 73,657 shares of the financial services provider’s stock, valued at approximately $5,774,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLF. Brighton Jones LLC acquired a new position in Sun Life Financial in the fourth quarter valued at $244,000. AQR Capital Management LLC increased its position in shares of Sun Life Financial by 113.8% during the first quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 4,270 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Sun Life Financial in the 2nd quarter valued at about $204,000. Prudential Financial Inc. purchased a new stake in shares of Sun Life Financial in the 2nd quarter valued at about $232,000. Finally, EverSource Wealth Advisors LLC boosted its position in shares of Sun Life Financial by 66.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider’s stock valued at $115,000 after purchasing an additional 692 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Down 0.4%

Shares of SLF stock opened at $78.47 on Tuesday. The stock’s 50-day moving average price is $80.34 and its 200 day moving average price is $72.82. The stock has a market capitalization of $43.73 billion, a PE ratio of 18.34 and a beta of 0.88. Sun Life Financial Inc. has a 52-week low of $57.22 and a 52-week high of $84.38.

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

Sun Life Financial Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 4.9%. Sun Life Financial’s dividend payout ratio (DPR) is currently 64.02%.

Analysts Set New Price Targets

A number of research firms recently issued reports on SLF. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a research note on Friday, May 8th. TD Securities reissued a “buy” rating on shares of Sun Life Financial in a report on Friday, August 7th. Royal Bank Of Canada raised their target price on shares of Sun Life Financial from $98.00 to $119.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. Evercore cut shares of Sun Life Financial from an “outperform” rating to an “in-line” rating in a report on Monday, July 13th. Finally, Wall Street Zen upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.33.

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.