Cubist Systematic Strategies LLC Acquires 102,368 Shares of Sun Life Financial Inc. (NYSE:SLF)

Cubist Systematic Strategies LLC grew its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 507.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,557 shares of the financial services provider’s stock after acquiring an additional 102,368 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Sun Life Financial were worth $6,005,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SLF. Toronto Dominion Bank increased its holdings in shares of Sun Life Financial by 42.8% in the first quarter. Toronto Dominion Bank now owns 6,642,564 shares of the financial services provider’s stock worth $362,551,000 after acquiring an additional 1,991,360 shares in the last quarter. CIBC Asset Management Inc increased its holdings in shares of Sun Life Financial by 16.5% in the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock worth $313,976,000 after acquiring an additional 905,679 shares in the last quarter. Intact Investment Management Inc. increased its holdings in shares of Sun Life Financial by 423.9% in the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock worth $49,909,000 after acquiring an additional 823,670 shares in the last quarter. AGF Management Ltd. increased its holdings in shares of Sun Life Financial by 46.5% in the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock worth $135,816,000 after acquiring an additional 797,901 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its holdings in shares of Sun Life Financial by 171.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,172,025 shares of the financial services provider’s stock worth $61,081,000 after acquiring an additional 740,014 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Price Performance

SLF stock opened at $58.10 on Friday. The stock has a market capitalization of $33.68 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.46 and a beta of 1.00. The business has a 50-day moving average of $52.58 and a 200-day moving average of $51.68. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $58.34.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Equities analysts expect that Sun Life Financial Inc. will post 4.86 EPS for the current year.

Sun Life Financial Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Wednesday, August 28th will be given a dividend of $0.587 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $2.35 annualized dividend and a yield of 4.04%. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.85%.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Argus raised Sun Life Financial to a “strong-buy” rating in a research report on Monday, June 3rd. Barclays assumed coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company.

Sun Life Financial Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.