APG Asset Management N.V. Increases Position in Sun Life Financial Inc. (NYSE:SLF)

APG Asset Management N.V. raised its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 124.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 68,954 shares of the financial services provider’s stock after purchasing an additional 38,300 shares during the period. APG Asset Management N.V.’s holdings in Sun Life Financial were worth $3,154,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Voisard Asset Management Group Inc. purchased a new position in shares of Sun Life Financial in the 4th quarter valued at $26,000. GAMMA Investing LLC boosted its stake in Sun Life Financial by 6,244.4% during the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 562 shares during the period. Ridgewood Investments LLC acquired a new stake in Sun Life Financial during the 2nd quarter worth $39,000. Fairfield Financial Advisors LTD acquired a new stake in Sun Life Financial during the 2nd quarter worth $43,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in Sun Life Financial during the 1st quarter worth $76,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Performance

SLF stock opened at $57.82 on Monday. Sun Life Financial Inc. has a one year low of $44.57 and a one year high of $58.49. The stock has a market capitalization of $33.37 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.48 and a beta of 1.00. The company has a fifty day moving average of $52.91 and a 200-day moving average of $51.70.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate 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 company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Equities analysts forecast that Sun Life Financial Inc. will post 4.86 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were paid a $0.587 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.06%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is 60.10%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Barclays started coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company. Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research note on Monday, June 3rd.

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.