Sun Life Financial Inc. $SLF Shares Newly Bought by Fortress Financial Solutions LLC

Fortress Financial Solutions LLC purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the third quarter, according to its most recent 13F filing with the SEC. The firm purchased 6,694 shares of the financial services provider’s stock, valued at approximately $522,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SLF. BlackRock Inc. acquired a new position in Sun Life Financial during the 2nd quarter valued at about $81,587,000. Plato Investment Management Ltd purchased a new stake in Sun Life Financial in the second quarter valued at about $2,888,000. Korea Investment CORP acquired a new stake in Sun Life Financial in the second quarter worth about $35,531,000. Osmosis Investment Management UK Ltd acquired a new stake in Sun Life Financial in the second quarter worth about $1,637,000. Finally, Polar Asset Management Partners Inc. acquired a new stake in Sun Life Financial in the second quarter worth about $78,481,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SLF shares. TD Securities restated a “buy” rating on shares of Sun Life Financial in a report on Friday, August 7th. Royal Bank Of Canada increased their price objective on shares of Sun Life Financial from $98.00 to $119.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Sun Life Financial from a “buy (b+)” rating to a “buy (a-)” rating in a research note on Monday, August 31st. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a research note on Wednesday, October 7th. Finally, Scotiabank reissued a “sector perform” rating on shares of Sun Life Financial in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sun Life Financial has a consensus rating of “Moderate Buy” and an average target price of $103.50.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock traded up $0.18 during trading on Wednesday, hitting $78.06. 333,822 shares of the company’s stock were exchanged, compared to its average volume of 699,062. The stock has a market capitalization of $43.40 billion, a price-to-earnings ratio of 18.25, a PEG ratio of 1.92 and a beta of 0.89. The business has a 50-day simple moving average of $79.60 and a 200-day simple moving average of $75.97. 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 posted its quarterly earnings results on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. The company had revenue of $10.10 billion for the quarter, compared to analyst estimates of $994.33 million. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. On average, equities analysts anticipate that Sun Life Financial Inc. will post 5.77 earnings per share for the current fiscal year.

Sun Life Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Stockholders of record on Wednesday, August 26th were issued a C$0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Wednesday, August 26th. Sun Life Financial’s payout ratio is 64.02%.

Sun Life Financial Company Profile

Sun Life Financial Inc is a Canadian financial services company that provides insurance, wealth, and asset management products to individuals, businesses, and institutions. The company serves clients through operations in Canada, the United States, and several markets in Asia.

Its insurance offerings include life, health, dental, disability, long-term care, and critical illness coverage, as well as annuities and employee benefits. Sun Life also provides retirement savings and investment products, including mutual funds and other wealth solutions for individuals and workplace plan members.

Through its asset management businesses, Sun Life manages investments for institutional and retail clients across a range of asset classes.