Jupiter Asset Management Ltd. Invests $7.57 Million in Sun Life Financial Inc. (NYSE:SLF)

Jupiter Asset Management Ltd. purchased a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 145,376 shares of the financial services provider’s stock, valued at approximately $7,572,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Salem Investment Counselors Inc. purchased a new position in Sun Life Financial during the second quarter worth about $25,000. Money Concepts Capital Corp purchased a new position in Sun Life Financial during the fourth quarter worth about $26,000. Spire Wealth Management purchased a new position in Sun Life Financial during the first quarter worth about $27,000. Achmea Investment Management B.V. purchased a new position in Sun Life Financial during the first quarter worth about $32,000. Finally, Financial Gravity Asset Management Inc. purchased a new position in Sun Life Financial during the first quarter worth about $31,000. 44.96% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Price Performance

Shares of SLF opened at $50.68 on Friday. Sun Life Financial Inc. has a 1-year low of $43.53 and a 1-year high of $53.21. The stock has a market cap of $29.61 billion, a PE ratio of 12.27, a P/E/G ratio of 1.36 and a beta of 1.01. The firm has a 50-day simple moving average of $48.25 and a two-hundred day simple moving average of $49.41.

Sun Life Financial Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Wednesday, November 29th will be given a dividend of $0.5637 per share. This represents a $2.25 dividend on an annualized basis and a dividend yield of 4.45%. The ex-dividend date of this dividend is Tuesday, November 28th. Sun Life Financial’s dividend payout ratio is presently 54.96%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SLF. StockNews.com began coverage on shares of Sun Life Financial in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Credit Suisse Group reduced their target price on shares of Sun Life Financial from $79.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, August 10th.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.