Varma Mutual Pension Insurance Co Boosts Stake in Sun Life Financial Inc. $SLF

Varma Mutual Pension Insurance Co raised its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 183,564 shares of the financial services provider’s stock after buying an additional 14,700 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Sun Life Financial were worth $11,025,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Plan A Wealth LLC lifted its stake in shares of Sun Life Financial by 11.0% during the 3rd quarter. Plan A Wealth LLC now owns 8,507 shares of the financial services provider’s stock worth $511,000 after acquiring an additional 841 shares during the last quarter. Caprock Group LLC purchased a new stake in Sun Life Financial in the third quarter worth $306,000. MQS Management LLC lifted its position in shares of Sun Life Financial by 17.2% during the third quarter. MQS Management LLC now owns 8,150 shares of the financial services provider’s stock worth $489,000 after purchasing an additional 1,198 shares during the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of Sun Life Financial during the third quarter valued at $551,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Sun Life Financial by 184.1% during the third quarter. Smartleaf Asset Management LLC now owns 588 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 381 shares during the period. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of SLF stock opened at $68.96 on Friday. The stock’s 50-day moving average is $62.82 and its 200 day moving average is $60.71. Sun Life Financial Inc. has a 1-year low of $52.44 and a 1-year high of $69.67. The company has a market cap of $38.20 billion, a P/E ratio of 15.67 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.35 by $0.06. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.58%. The business had revenue of $973.53 million during the quarter, compared to analyst estimates of $973.53 million. During the same period in the prior year, the firm posted $1.68 earnings per share. On average, analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th will be paid a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 5.3%. The ex-dividend date is Wednesday, February 25th. Sun Life Financial’s dividend payout ratio (DPR) is 69.68%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a research note on Thursday. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sun Life Financial in a research note on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a research note on Wednesday, January 21st. National Bank Financial reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, November 6th. Finally, Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a 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 assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sun Life Financial currently has a consensus 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.