Intech Investment Management LLC Purchases 23,527 Shares of Sun Life Financial Inc. (NYSE:SLF)

Intech Investment Management LLC grew its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 65.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 59,429 shares of the financial services provider’s stock after buying an additional 23,527 shares during the quarter. Intech Investment Management LLC’s holdings in Sun Life Financial were worth $2,913,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc increased its position in Sun Life Financial by 34.7% in the 4th quarter. TD Asset Management Inc now owns 15,665,551 shares of the financial services provider’s stock valued at $816,424,000 after acquiring an additional 4,035,394 shares in the last quarter. Toronto Dominion Bank grew its stake in shares of Sun Life Financial by 42.8% during the first quarter. Toronto Dominion Bank now owns 6,642,564 shares of the financial services provider’s stock valued at $362,551,000 after purchasing an additional 1,991,360 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of Sun Life Financial by 16.5% in the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock valued at $313,976,000 after purchasing an additional 905,679 shares in the last quarter. Intact Investment Management Inc. raised its position in Sun Life Financial by 423.9% in the 2nd quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock worth $49,909,000 after purchasing an additional 823,670 shares during the last quarter. Finally, AGF Management Ltd. raised its position in shares of Sun Life Financial by 46.5% during the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock worth $135,816,000 after acquiring an additional 797,901 shares during the last quarter. 52.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

SLF has been the topic of several recent research reports. Barclays began coverage on Sun Life Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research report on Monday, June 3rd.

Sun Life Financial Price Performance

NYSE:SLF opened at $56.59 on Monday. The business’s 50-day simple moving average is $52.18 and its 200-day simple moving average is $51.61. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $57.20. The stock has a market capitalization of $32.81 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.45 and a beta of 1.00.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. The firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.72 billion. On average, research analysts expect that Sun Life Financial Inc. will post 4.86 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Wednesday, August 28th will be paid a $0.587 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Wednesday, August 28th. Sun Life Financial’s payout ratio is presently 59.85%.

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.