Entropy Technologies LP Makes New $788,000 Investment in Sun Life Financial Inc. (NYSE:SLF)

Entropy Technologies LP purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 13,579 shares of the financial services provider’s stock, valued at approximately $788,000.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Sun Life Financial by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 23,241,910 shares of the financial services provider’s stock valued at $1,268,543,000 after purchasing an additional 359,028 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Sun Life Financial by 2.9% in the 2nd quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider’s stock valued at $721,042,000 after acquiring an additional 407,913 shares during the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Sun Life Financial by 5.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider’s stock valued at $500,492,000 after acquiring an additional 499,009 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Sun Life Financial by 13.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock valued at $421,167,000 after acquiring an additional 1,049,244 shares during the last quarter. Finally, Toronto Dominion Bank grew its stake in Sun Life Financial by 5.0% during the 2nd quarter. Toronto Dominion Bank now owns 6,975,205 shares of the financial services provider’s stock worth $341,715,000 after buying an additional 332,641 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of SLF stock opened at $61.12 on Friday. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $61.61. The stock’s 50-day moving average is $57.12 and its two-hundred day moving average is $52.77. The firm has a market cap of $38.51 billion, a P/E ratio of 13.41, a PEG ratio of 1.54 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. As a group, research analysts expect that Sun Life Financial Inc. will post 4.85 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a $0.621 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio (DPR) is currently 52.34%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays assumed coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. StockNews.com upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th.

Sun Life Financial Company 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.