September 3, 2023
Korea Investment Corp Increases Stake in Sun Life Financial Inc
In a recent development, Korea Investment Corp (KIC) increased its stake in shares of Sun Life Financial Inc during the first quarter of this year. According to the Form 13F filing submitted to the Securities and Exchange Commission (SEC), KIC now owns approximately 624,474 shares of Sun Life Financial’s stock. This represents a 16.8% increase from its previous holdings.
The additional purchase of 89,912 shares by Korea Investment Corp underscores its confidence in the financial services provider. At the end of the reporting period, KIC’s stake in Sun Life Financial was valued at $29,135,000 or approximately 0.11% ownership.
Sun Life Financial is a well-known player in the financial services industry and has attracted institutional investors like Korea Investment Corp due to its strong performance and potential for growth.
Furthermore, Sun Life Financial recently announced it will be paying a quarterly dividend on September 29th. Shareholders of record as of August 30th will receive a dividend of $0.566 per share. This translates into an annualized dividend rate of $2.26 with a dividend yield of 4.64%. The ex-dividend date for this payment is set for August 29th.
This positive change comes as a welcome update for shareholders, as it signifies an increase from the company’s previous quarterly dividend of $0.55 per share. With a payout ratio of 60.71%, Sun Life Financial demonstrates its commitment to rewarding its investors with consistent dividends.
Investors are likely pleased with both the increase in stake by Korea Investment Corp and the enhanced dividend payout by Sun Life Financial. These developments signal confidence in the company’s financial stability and potential for future growth.
As always, it is important for interested parties to conduct their own thorough research before making any investment decisions. The information provided above should be used as a starting point, and further analysis is recommended to make well-informed investment choices.
In conclusion, Korea Investment Corp’s increased stake in Sun Life Financial, combined with the improved dividend payout, supports the positive outlook for the financial services provider. Investors will continue to monitor the company’s performance as it navigates through evolving market conditions and seeks to deliver value to its shareholders.
Recent Hedge Fund Stakes and Analyst Opinions on Sun Life Financial Inc.: Insights for Investors
Sun Life Financial Inc. (SLF) has recently seen changes in the stakes held by various hedge funds, as reported on September 3, 2023. Money Concepts Capital Corp acquired a new stake in SLF shares during the fourth quarter of last year, with a worth of $26,000. Additionally, Spire Wealth Management purchased a new position in Sun Life Financial in the first quarter this year for approximately $27,000. Achmea Investment Management B.V. also acquired a new stake in SLF shares during the same quarter valued at around $32,000 USD. Furthermore, International Assets Investment Management LLC and Ridgewood Investments LLC both bought new stakes in Sun Life Financial during the first quarter for approximately $37,000 each. It is noteworthy that institutional investors currently own about 44.96% of the company’s stock.
Several equities research analysts have shared their opinions on SLF shares as well. StockNews.com initiated coverage on Sun Life Financial on August 17th and assigned a “hold” rating for the company. Royal Bank of Canada upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating back in May 15th. Lastly, Credit Suisse Group decreased their target price on Sun Life Financial from $79 to $77 and maintained an “outperform” rating on the stock in early August.
As of Friday’s market opening, SLF traded at $48.78 per share with a market cap of $28.63 billion USD. The stock has a PE ratio of 13.40 and a PEG ratio of 1.27, indicating its perceived value relative to its earnings growth potential and higher beta compared to the broader market at 1.01.
Over the past twelve months, Sun Life Financial has reached highs of $53.21 and lows of $37.96 per share respectively.
In terms of moving averages, the stock’s 50-day simple moving average rests at $50.61, while the two-hundred day simple moving average is at $49.19.
Sun Life Financial recently released its quarterly earnings data on August 8th, revealing an earnings per share (EPS) of $1.17 for the quarter, which met the consensus estimate of analysts. The company reported a return on equity of 15.10% and a net margin of 7.28%. Moreover, Sun Life Financial generated revenue worth $5.71 billion during this quarter.
Equities research analysts anticipate that Sun Life Financial will post an EPS of 4.69 for the current year.
Overall, these recent developments in terms of hedge fund stakes and equities research analysis shed light on the current state and outlook for Sun Life Financial Inc., providing valuable information for investors who are interested in monitoring and potentially investing in the company’s stock.