Munich Reinsurance Co Stock Corp in Munich Acquires Shares of 35,254 Sun Life Financial Inc. $SLF

Munich Reinsurance Co Stock Corp in Munich acquired a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 35,254 shares of the financial services provider’s stock, valued at approximately $2,117,000.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in Sun Life Financial during the fourth quarter valued at approximately $244,000. AQR Capital Management LLC boosted its position in Sun Life Financial by 113.8% in the 1st 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 Sun Life Financial in the 2nd quarter worth approximately $204,000. Envestnet Asset Management Inc. grew its stake in shares of Sun Life Financial by 12.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,472 shares of the financial services provider’s stock worth $1,626,000 after purchasing an additional 2,613 shares during the period. Finally, Assetmark Inc. increased its holdings in shares of Sun Life Financial by 347.0% during the 2nd quarter. Assetmark Inc. now owns 1,873 shares of the financial services provider’s stock valued at $124,000 after purchasing an additional 1,454 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $64.90 on Friday. Sun Life Financial Inc. has a 1 year low of $52.44 and a 1 year high of $69.67. The firm has a market capitalization of $35.95 billion, a price-to-earnings ratio of 14.75 and a beta of 0.87. The business’s 50 day moving average price is $64.25 and its 200-day moving average price is $61.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.35 by $0.06. The company had revenue of $973.53 million during the quarter, compared to analyst estimates of $973.53 million. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.76%. During the same quarter in the previous year, the firm earned $1.68 EPS. On average, sell-side analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, February 25th will be given a $0.92 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $3.68 annualized dividend and a dividend yield of 5.7%. Sun Life Financial’s dividend payout ratio (DPR) is 61.36%.

Analysts Set New Price Targets

SLF has been the subject of several analyst reports. BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a research note on Friday, February 13th. Evercore reaffirmed an “outperform” rating on shares of Sun Life Financial in a report on Thursday, February 19th. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a research report on Thursday, January 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a research note on Wednesday, January 21st. Finally, Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Sun Life Financial currently has an average rating of “Hold” and a consensus target price of $86.50.

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.