Zurcher Kantonalbank Zurich Cantonalbank Buys 16,204 Shares of Sun Life Financial Inc (SLF)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 3.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,271 shares of the financial services provider’s stock after purchasing an additional 16,204 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.08% of Sun Life Financial worth $18,364,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. increased its holdings in Sun Life Financial by 15.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 9,804 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 1,330 shares in the last quarter. Vident Investment Advisory LLC grew its stake in shares of Sun Life Financial by 1.7% during the second quarter. Vident Investment Advisory LLC now owns 83,137 shares of the financial services provider’s stock valued at $3,344,000 after acquiring an additional 1,365 shares in the last quarter. K.J. Harrison & Partners Inc grew its stake in shares of Sun Life Financial by 19.2% during the second quarter. K.J. Harrison & Partners Inc now owns 10,255 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 1,650 shares in the last quarter. Moody Aldrich Partners LLC acquired a new stake in shares of Sun Life Financial during the second quarter valued at about $68,346,000. Finally, Comerica Bank grew its stake in shares of Sun Life Financial by 4.2% during the third quarter. Comerica Bank now owns 43,980 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 1,771 shares in the last quarter. Hedge funds and other institutional investors own 41.24% of the company’s stock.

Shares of Sun Life Financial stock opened at $36.42 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.06 and a quick ratio of 4.06. The stock has a market cap of $22.03 billion, a PE ratio of 11.38 and a beta of 0.83. Sun Life Financial Inc has a 1-year low of $35.72 and a 1-year high of $44.50.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, November 7th. The financial services provider reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.03. The company had revenue of $4.59 billion during the quarter. Sun Life Financial had a return on equity of 13.74% and a net margin of 8.15%. On average, analysts predict that Sun Life Financial Inc will post 3.69 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Wednesday, November 28th will be given a dividend of $0.38 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.37. The ex-dividend date of this dividend is Tuesday, November 27th. This represents a $1.52 annualized dividend and a dividend yield of 4.17%. Sun Life Financial’s dividend payout ratio (DPR) is presently 45.63%.

Several brokerages have recently weighed in on SLF. Zacks Investment Research restated a “hold” rating on shares of Sun Life Financial in a research note on Thursday, November 15th. Barclays restated a “buy” rating on shares of Sun Life Financial in a research note on Friday, November 9th. Canaccord Genuity restated an “average” rating and set a $53.00 target price on shares of Sun Life Financial in a research note on Friday, November 9th. Desjardins restated a “buy” rating on shares of Sun Life Financial in a research note on Tuesday, October 16th. Finally, ValuEngine downgraded Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. Sun Life Financial currently has a consensus rating of “Hold” and an average price target of $53.60.

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About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.

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

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