Canada Pension Plan Investment Board Has $170.07 Million Holdings in Sun Life Financial Inc. (NYSE:SLF)

Canada Pension Plan Investment Board increased its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 71.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,867,939 shares of the financial services provider's stock after acquiring an additional 1,200,000 shares during the period. Canada Pension Plan Investment Board owned about 0.46% of Sun Life Financial worth $170,068,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in SLF. Stifel Financial Corp lifted its position in shares of Sun Life Financial by 1.6% during the 3rd quarter. Stifel Financial Corp now owns 44,977 shares of the financial services provider's stock worth $2,610,000 after buying an additional 722 shares during the last quarter. State Street Corp grew its holdings in shares of Sun Life Financial by 0.8% during the 3rd quarter. State Street Corp now owns 39,478 shares of the financial services provider's stock valued at $2,291,000 after purchasing an additional 330 shares during the last quarter. MML Investors Services LLC acquired a new position in Sun Life Financial during the 3rd quarter worth approximately $237,000. Barclays PLC boosted its position in Sun Life Financial by 61.3% in the third quarter. Barclays PLC now owns 5,907 shares of the financial services provider's stock valued at $343,000 after buying an additional 2,244 shares in the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in shares of Sun Life Financial during the third quarter worth $878,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Sun Life Financial Stock Performance

Shares of SLF traded up $0.72 during mid-day trading on Tuesday, reaching $57.27. 148,155 shares of the company were exchanged, compared to its average volume of 671,291. The business has a 50 day simple moving average of $55.80 and a two-hundred day simple moving average of $57.82. The stock has a market capitalization of $32.50 billion, a PE ratio of 14.91, a PEG ratio of 1.52 and a beta of 0.87. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly 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%. On average, analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th were paid a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date of this dividend was Wednesday, February 26th. Sun Life Financial's dividend payout ratio is 60.16%.

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.