Bank of Nova Scotia Trust Co. Acquires 7,155 Shares of Sun Life Financial Inc. (NYSE:SLF)

Bank of Nova Scotia Trust Co. grew its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 316,240 shares of the financial services provider's stock after acquiring an additional 7,155 shares during the period. Sun Life Financial accounts for approximately 2.0% of Bank of Nova Scotia Trust Co.'s investment portfolio, making the stock its 15th biggest holding. Bank of Nova Scotia Trust Co. owned approximately 0.05% of Sun Life Financial worth $18,766,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Human Investing LLC acquired a new position in Sun Life Financial in the fourth quarter valued at approximately $26,000. Asset Planning Inc bought a new stake in Sun Life Financial in the fourth quarter valued at $40,000. BankPlus Trust Department acquired a new position in shares of Sun Life Financial during the fourth quarter valued at about $40,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Sun Life Financial during the 4th quarter worth about $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Sun Life Financial in the 3rd quarter valued at about $51,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Trading Up 0.3 %

Shares of NYSE:SLF traded up $0.17 during mid-day trading on Monday, hitting $56.60. 546,525 shares of the company traded hands, compared to its average volume of 683,211. The stock has a 50-day moving average price of $55.80 and a two-hundred day moving average price of $57.82. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85. The stock has a market cap of $32.31 billion, a P/E ratio of 14.74, a P/E/G ratio of 1.52 and a beta of 0.87.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. As a group, analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th were paid a $0.5876 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.15%. Sun Life Financial's payout ratio is presently 60.16%.

Analyst Ratings Changes

A number of brokerages have commented on SLF. StockNews.com cut Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Finally, National Bank Financial upgraded shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy".

About Sun Life Financial

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.