Goldman Sachs Group Inc. Acquires 275,334 Shares of Sun Life Financial Inc. (NYSE:SLF)

Goldman Sachs Group Inc. increased its holdings in Sun Life Financial Inc. (NYSE:SLFFree Report) (TSE:SLF) by 20.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,620,801 shares of the financial services provider’s stock after purchasing an additional 275,334 shares during the period. Goldman Sachs Group Inc. owned approximately 0.28% of Sun Life Financial worth $84,055,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. Canoe Financial LP grew its stake in shares of Sun Life Financial by 7,959.7% during the fourth quarter. Canoe Financial LP now owns 45,648,390 shares of the financial services provider’s stock valued at $2,367,326,000 after buying an additional 45,082,012 shares during the last quarter. Norges Bank bought a new position in Sun Life Financial during the 4th quarter worth approximately $335,757,000. TD Asset Management Inc increased its stake 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 worth $816,424,000 after purchasing an additional 4,035,394 shares during the period. Allianz Asset Management GmbH lifted its position in Sun Life Financial by 171.3% in the fourth quarter. Allianz Asset Management GmbH now owns 1,172,025 shares of the financial services provider’s stock valued at $61,081,000 after purchasing an additional 740,014 shares during the last quarter. Finally, AGF Management Ltd. grew its holdings in shares of Sun Life Financial by 91.7% in the fourth quarter. AGF Management Ltd. now owns 1,535,288 shares of the financial services provider’s stock worth $79,620,000 after purchasing an additional 734,549 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SLF. Jefferies Financial Group started coverage on shares of Sun Life Financial in a report on Thursday, February 22nd. They set a “buy” rating for the company. Argus raised Sun Life Financial to a “strong-buy” rating in a research note on Monday, June 3rd.

View Our Latest Stock Analysis on Sun Life Financial

Sun Life Financial Stock Performance

Shares of SLF opened at $49.45 on Tuesday. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $55.46. The firm’s 50-day simple moving average is $51.29 and its two-hundred day simple moving average is $52.02. The stock has a market cap of $28.74 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.26 and a beta of 1.00.

Sun Life Financial (NYSE:SLFGet Free Report) (TSE:SLF) last posted its quarterly earnings results on Thursday, May 9th. The financial services provider reported $1.11 earnings per share for the quarter, missing the consensus estimate of $1.20 by ($0.09). The company had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $7.25 billion. Sun Life Financial had a return on equity of 16.97% and a net margin of 8.94%. Equities research analysts predict that Sun Life Financial Inc. will post 4.88 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, May 29th will be given a $0.588 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.76%. The ex-dividend date of this dividend is Wednesday, May 29th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.58. Sun Life Financial’s payout ratio is currently 60.10%.

About Sun Life Financial

(Free Report)

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.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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