Sun Life Financial Inc. $SLF Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC grew its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 6.6% in the 2nd quarter, Holdings Channel reports. The fund owned 38,183 shares of the financial services provider’s stock after acquiring an additional 2,356 shares during the period. Metis Global Partners LLC’s holdings in Sun Life Financial were worth $2,541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Harvest Portfolios Group Inc. grew its stake in Sun Life Financial by 1.0% during the 2nd quarter. Harvest Portfolios Group Inc. now owns 53,754 shares of the financial services provider’s stock valued at $3,577,000 after purchasing an additional 554 shares in the last quarter. Savant Capital LLC boosted its stake in shares of Sun Life Financial by 43.5% during the 2nd quarter. Savant Capital LLC now owns 10,512 shares of the financial services provider’s stock valued at $699,000 after buying an additional 3,186 shares during the last quarter. Sienna Gestion boosted its stake in shares of Sun Life Financial by 11.0% during the 2nd quarter. Sienna Gestion now owns 186,385 shares of the financial services provider’s stock valued at $11,301,000 after buying an additional 18,500 shares during the last quarter. Asahi Life Asset Management CO. LTD. acquired a new stake in shares of Sun Life Financial during the second quarter worth approximately $229,000. Finally, Bank of New York Mellon Corp raised its holdings in Sun Life Financial by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 606,981 shares of the financial services provider’s stock valued at $40,334,000 after acquiring an additional 15,671 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SLF shares. Scotiabank raised shares of Sun Life Financial to a “hold” rating in a report on Thursday, July 31st. Royal Bank Of Canada downgraded Sun Life Financial from a “moderate buy” rating to a “hold” rating in a research note on Friday. Barclays restated an “underweight” rating on shares of Sun Life Financial in a research note on Wednesday, October 8th. Evercore ISI reiterated an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. Finally, National Bank Financial downgraded Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $88.50.

Sun Life Financial Stock Down 0.9%

Shares of SLF stock opened at $58.54 on Monday. The company has a market cap of $32.69 billion, a P/E ratio of 14.49, a PEG ratio of 1.67 and a beta of 0.90. The business has a 50 day moving average of $60.18 and a two-hundred day moving average of $61.36. Sun Life Financial Inc. has a 52 week low of $52.44 and a 52 week high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.05. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The business had revenue of $944.53 million for the quarter, compared to the consensus estimate of $944.53 million. During the same quarter last year, the business posted $2.33 EPS. Analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, November 26th will be paid a $0.92 dividend. The ex-dividend date is Wednesday, November 26th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.64. This represents a $3.68 dividend on an annualized basis and a yield of 6.3%. Sun Life Financial’s dividend payout ratio (DPR) is 69.41%.

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.