Tacita Capital Inc Purchases Shares of 7,494 Sun Life Financial Inc. $SLF

Tacita Capital Inc acquired a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the second quarter, HoldingsChannel reports. The institutional investor acquired 7,494 shares of the financial services provider’s stock, valued at approximately $587,000.

Several other hedge funds have also modified their holdings of the company. Cassaday & Co Wealth Management LLC bought a new position in shares of Sun Life Financial during the 1st quarter valued at approximately $25,000. Cornerstone Planning Group LLC increased its position in Sun Life Financial by 68.4% in 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. Brown Brothers Harriman & Co. bought a new stake in Sun Life Financial in the fourth quarter worth $30,000. Sittner & Nelson LLC purchased a new stake in Sun Life Financial during the fourth quarter valued at $33,000. Finally, Scarborough Advisors LLC purchased a new stake in Sun Life Financial during the first quarter valued at $33,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. 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. TD Securities restated a “buy” rating on shares of Sun Life Financial in a research report on Friday, August 7th. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Friday, April 24th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Sun Life Financial in a research report on Friday, May 8th. Finally, Evercore cut Sun Life Financial from an “outperform” rating to an “in-line” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.33.

Sun Life Financial Stock Down 1.0%

SLF stock opened at $79.59 on Thursday. Sun Life Financial Inc. has a twelve month low of $57.22 and a twelve month high of $84.38. The stock has a market capitalization of $44.36 billion, a price-to-earnings ratio of 18.60 and a beta of 0.88. The firm’s fifty day simple moving average is $80.11 and its two-hundred day simple moving average is $72.02.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. The firm had revenue of $10.10 billion during 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%. As a group, equities research analysts expect that Sun Life Financial Inc. will post 5.72 EPS for the current year.

Sun Life Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th will be paid 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 4.8%. Sun Life Financial’s dividend payout ratio (DPR) is presently 66.12%.

Sun Life Financial 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.