Entropy Technologies LP Makes New $788,000 Investment in Sun Life Financial Inc. (NYSE:SLF)

Entropy Technologies LP bought a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 13,579 shares of the financial services provider’s stock, valued at approximately $788,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Toronto Dominion Bank lifted its holdings in Sun Life Financial by 42.8% in the first quarter. Toronto Dominion Bank now owns 6,642,564 shares of the financial services provider’s stock valued at $362,551,000 after acquiring an additional 1,991,360 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Sun Life Financial by 13.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock valued at $421,167,000 after acquiring an additional 1,049,244 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Sun Life Financial by 16.5% in the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock valued at $313,976,000 after acquiring an additional 905,679 shares during the last quarter. Intact Investment Management Inc. lifted its stake in Sun Life Financial by 423.9% during the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock worth $49,909,000 after purchasing an additional 823,670 shares in the last quarter. Finally, AGF Management Ltd. lifted its stake in Sun Life Financial by 46.5% during the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock worth $135,816,000 after purchasing an additional 797,901 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $61.12 on Friday. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $61.61. The firm has a market cap of $38.51 billion, a price-to-earnings ratio of 13.41, a PEG ratio of 1.54 and a beta of 1.01. The stock’s 50-day moving average is $57.12 and its two-hundred day moving average is $52.77.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a net margin of 7.32% and a return on equity of 17.44%. The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. As a group, research analysts predict that Sun Life Financial Inc. will post 4.85 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.621 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is 52.34%.

Analysts Set New Price Targets

A number of research analysts have commented on SLF shares. StockNews.com upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. Barclays began coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock.

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.