Intact Investment Management Inc. Has $76.33 Million Position in Sun Life Financial Inc. $SLF

Intact Investment Management Inc. grew its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 226.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,270,947 shares of the financial services provider’s stock after purchasing an additional 882,070 shares during the quarter. Sun Life Financial makes up about 2.3% of Intact Investment Management Inc.’s portfolio, making the stock its 8th largest position. Intact Investment Management Inc. owned 0.23% of Sun Life Financial worth $76,327,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Private Trust Co. NA boosted its position in Sun Life Financial by 130.6% during the second quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 243 shares during the last quarter. Westside Investment Management Inc. lifted its stake in shares of Sun Life Financial by 62.8% in the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 223 shares during the period. Tobam acquired a new position in shares of Sun Life Financial in the 2nd quarter valued at about $44,000. Addison Advisors LLC boosted its position in shares of Sun Life Financial by 48.8% during the 2nd quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 231 shares in the last quarter. Finally, MAI Capital Management grew its stake in Sun Life Financial by 121.8% during the second quarter. MAI Capital Management now owns 896 shares of the financial services provider’s stock worth $60,000 after purchasing an additional 492 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Trading Up 1.8%

Sun Life Financial stock opened at $63.71 on Monday. The firm has a market capitalization of $35.28 billion, a price-to-earnings ratio of 16.94 and a beta of 0.87. The firm’s fifty day moving average price is $60.98 and its two-hundred day moving average price is $60.42. Sun Life Financial Inc. has a 1-year low of $52.44 and a 1-year high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. The company had revenue of $944.53 million for the quarter, compared to analyst estimates of $944.53 million. Sun Life Financial had a net margin of 7.53% and a return on equity of 16.93%. During the same quarter in the prior year, the business posted $2.33 EPS. On average, research analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, November 26th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.64. This represents a $3.68 annualized dividend and a dividend yield of 5.8%. Sun Life Financial’s payout ratio is presently 69.68%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a research note on Wednesday. National Bankshares reissued a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, November 6th. Royal Bank Of Canada restated a “sector perform” rating and issued a $84.00 price target on shares of Sun Life Financial in a report on Monday, November 10th. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a report on Thursday, January 8th. Finally, CIBC restated a “neutral” rating on shares of Sun Life Financial in a research note on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sun Life Financial currently has a consensus rating of “Hold” and an average price target of $86.50.

Sun Life Financial Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.