Oddo BHF Asset Management Sas Raises Stock Position in Sun Life Financial Inc. $SLF

Oddo BHF Asset Management Sas lifted its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 28.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,716 shares of the financial services provider’s stock after buying an additional 18,600 shares during the quarter. Oddo BHF Asset Management Sas’ holdings in Sun Life Financial were worth $5,224,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of SLF. Cornerstone Planning Group LLC lifted its position in shares of Sun Life Financial by 68.4% during the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after buying an additional 167 shares during the last quarter. Brown Brothers Harriman & Co. purchased a new stake in shares of Sun Life Financial during the 4th quarter worth approximately $30,000. Sittner & Nelson LLC purchased a new stake in shares of Sun Life Financial during the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC lifted its position in shares of Sun Life Financial by 184.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after buying an additional 381 shares during the last quarter. Finally, Manchester Capital Management LLC acquired a new position in shares of Sun Life Financial in the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock opened at $76.62 on Tuesday. The stock has a market capitalization of $42.45 billion, a price-to-earnings ratio of 19.75 and a beta of 0.90. The firm’s fifty day simple moving average is $70.97 and its 200-day simple moving average is $65.76. Sun Life Financial Inc. has a 12 month low of $56.22 and a 12 month high of $77.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.03. The company had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $925.99 million. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. During the same period in the previous year, the company posted $1.82 EPS. Analysts anticipate that Sun Life Financial Inc. will post 5.76 earnings per share for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th will be paid a $0.96 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $3.84 annualized dividend and a yield of 5.0%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s dividend payout ratio is presently 72.94%.

Analysts Set New Price Targets

SLF has been the topic of a number of recent research reports. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Wednesday, April 29th. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Friday, April 24th. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. Wall Street Zen cut shares of Sun Life Financial from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. Finally, BMO Capital Markets reaffirmed 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, six have given a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $84.67.

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.