PDT Partners LLC Purchases New Stake in Sun Life Financial Inc. $SLF

PDT Partners LLC acquired a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the second quarter, Holdings Channel reports. The fund acquired 9,648 shares of the financial services provider’s stock, valued at approximately $757,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Louisbourg Investments Inc. raised its stake in shares of Sun Life Financial by 3.0% in the 1st quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider’s stock valued at $319,000 after purchasing an additional 150 shares in the last quarter. Cornerstone Planning Group LLC lifted its position in shares of Sun Life Financial by 68.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 167 shares during the last quarter. Candriam S.C.A. grew its stake in Sun Life Financial by 1.8% in the first quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 177 shares in the last quarter. HB Wealth Management LLC grew its stake in Sun Life Financial by 4.7% in the first quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider’s stock worth $260,000 after purchasing an additional 187 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Sun Life Financial by 3.5% in the first quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider’s stock valued at $362,000 after buying an additional 196 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Down 0.5%

Shares of SLF stock opened at $78.64 on Friday. The company has a market cap of $43.83 billion, a P/E ratio of 18.38 and a beta of 0.88. The business has a 50 day moving average of $80.32 and a two-hundred day moving average of $72.63. Sun Life Financial Inc. has a 52 week low of $57.22 and a 52 week high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. The business had revenue of $10.10 billion for the quarter, compared to analysts’ expectations of $994.33 million. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. Analysts expect that Sun Life Financial Inc. will post 5.72 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th will be given a $0.96 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.84 annualized dividend and a yield of 4.9%. Sun Life Financial’s dividend payout ratio (DPR) is currently 64.02%.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Royal Bank Of Canada increased their target price on Sun Life Financial from $98.00 to $119.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. TD Cowen reiterated a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a research report on Friday, May 8th. Argus set a $81.00 price objective on Sun Life Financial in a research note on Wednesday, June 10th. Finally, TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a report on Friday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Sun Life Financial presently has a consensus rating of “Moderate Buy” and an average price target of $96.33.

Sun Life Financial Company 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.