Lombard Odier Asset Management Europe Ltd Has $5.34 Million Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Lombard Odier Asset Management Europe Ltd boosted its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 13.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 108,810 shares of the financial services provider’s stock after purchasing an additional 13,178 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Sun Life Financial were worth $5,336,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the stock. Voisard Asset Management Group Inc. acquired a new position in shares of Sun Life Financial during the fourth quarter valued at about $26,000. GAMMA Investing LLC lifted its position in shares of Sun Life Financial by 6,244.4% in the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 562 shares during the period. Ridgewood Investments LLC acquired a new stake in shares of Sun Life Financial during the 2nd quarter worth approximately $39,000. Fairfield Financial Advisors LTD bought a new stake in shares of Sun Life Financial during the second quarter valued at approximately $43,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Sun Life Financial in the first quarter valued at $76,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Stock Performance

Shares of SLF opened at $56.59 on Monday. The stock has a fifty day moving average price of $52.18 and a two-hundred day moving average price of $51.61. The company has a market cap of $32.81 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.45 and a beta of 1.00. Sun Life Financial Inc. has a 52-week low of $44.57 and a 52-week high of $57.20.

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

Sun Life Financial Cuts Dividend

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

Analysts Set New Price Targets

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

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.