Capstone Investment Advisors LLC Takes $1.63 Million Position in Sun Life Financial Inc. $SLF

Capstone Investment Advisors LLC bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,729 shares of the financial services provider’s stock, valued at approximately $1,626,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Bank of Nova Scotia acquired a new stake in shares of Sun Life Financial in the second quarter valued at approximately $544,052,000. Norges Bank acquired a new stake in shares of Sun Life Financial in the 4th quarter worth $398,037,000. The Manufacturers Life Insurance Company purchased a new position in shares of Sun Life Financial during the 2nd quarter worth $293,050,000. Canada Pension Plan Investment Board acquired a new position in shares of Sun Life Financial during the 2nd quarter valued at about $292,980,000. Finally, Legal & General Group Plc purchased a new stake in shares of Sun Life Financial in the second quarter valued at about $280,312,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Down 0.5%

Shares of Sun Life Financial stock opened at $78.64 on Friday. The firm has a market capitalization of $43.83 billion, a P/E ratio of 18.38 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. The firm’s 50 day moving average is $80.32 and its two-hundred day moving average is $72.63.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.07. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. The business had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $994.33 million. As a group, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th will be paid a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 4.9%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial’s dividend payout ratio is currently 64.02%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a research note on Friday, May 8th. TD Cowen reaffirmed a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a report on Friday, August 7th. Wall Street Zen raised Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 26th. Finally, Argus set a $81.00 price objective on shares of Sun Life Financial in a report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $96.33.

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.