Intech Investment Management LLC Has $2.91 Million Holdings in Sun Life Financial Inc. (NYSE:SLF)

Intech Investment Management LLC lifted its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 65.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,429 shares of the financial services provider’s stock after purchasing an additional 23,527 shares during the quarter. Intech Investment Management LLC’s holdings in Sun Life Financial were worth $2,913,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Voisard Asset Management Group Inc. bought a new stake in Sun Life Financial during the 4th quarter worth about $26,000. GAMMA Investing LLC boosted its position in Sun Life Financial by 6,244.4% during the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 562 shares during the last quarter. Ridgewood Investments LLC bought a new position in Sun Life Financial in the second quarter valued at approximately $39,000. Fairfield Financial Advisors LTD acquired a new position in shares of Sun Life Financial during the 2nd quarter worth approximately $43,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Sun Life Financial during the 1st quarter worth approximately $76,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sun Life Financial Stock Down 0.5 %

Shares of NYSE SLF opened at $56.59 on Monday. The business’s 50 day moving average price is $52.18 and its two-hundred day moving average price is $51.61. The company has a market cap of $32.81 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.45 and a beta of 1.00. Sun Life Financial Inc. has a twelve month low of $44.57 and a twelve month high of $57.20.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.72 billion. As a group, research analysts anticipate that Sun Life Financial Inc. will post 4.86 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th will be given a $0.587 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.15%. The ex-dividend date of this dividend is Wednesday, August 28th. Sun Life Financial’s payout ratio is presently 59.85%.

About Sun Life Financial

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.