Sun Life Financial Inc. $SLF Shares Bought by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 329,274 shares of the financial services provider’s stock after purchasing an additional 25,540 shares during the period. Pictet Asset Management Holding SA’s holdings in Sun Life Financial were worth $20,582,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Farther Finance Advisors LLC increased its holdings in shares of Sun Life Financial by 16.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider’s stock valued at $78,000 after acquiring an additional 186 shares during the period. HB Wealth Management LLC boosted its stake in Sun Life Financial by 5.1% during the 4th quarter. HB Wealth Management LLC now owns 3,971 shares of the financial services provider’s stock worth $248,000 after purchasing an additional 194 shares during the period. Wealth Enhancement Advisory Services LLC grew its position in Sun Life Financial by 1.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 12,916 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 222 shares during the last quarter. Westside Investment Management Inc. grew its position in Sun Life Financial by 38.6% during the 3rd quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 223 shares during the last quarter. Finally, OneDigital Investment Advisors LLC increased its stake in Sun Life Financial by 7.9% in the third quarter. OneDigital Investment Advisors LLC now owns 3,357 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 246 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Trading Up 0.4%

Shares of SLF opened at $72.36 on Friday. The stock’s 50 day moving average is $65.61 and its two-hundred day moving average is $63.11. Sun Life Financial Inc. has a twelve month low of $56.22 and a twelve month high of $72.82. The firm has a market capitalization of $40.09 billion, a PE ratio of 16.44 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06. The business had revenue of $973.53 million during the quarter, compared to the consensus estimate of $973.53 million. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.During the same period in the prior year, the business posted $1.68 EPS. On average, sell-side analysts predict that Sun Life Financial Inc. will post 5.7 EPS for the current year.

Sun Life Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a yield of 5.1%. Sun Life Financial’s dividend payout ratio (DPR) is 61.36%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a research note on Friday, February 13th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a research report on Thursday, January 8th. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Wednesday. TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a research note on Thursday, February 12th. Finally, National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Friday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sun Life Financial presently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

About Sun Life Financial

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.