Cardinal Capital Management Inc. Purchases 253,488 Shares of Sun Life Financial Inc. (NYSE:SLF)

Cardinal Capital Management Inc. raised its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 29.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,123,354 shares of the financial services provider's stock after purchasing an additional 253,488 shares during the quarter. Sun Life Financial accounts for approximately 2.3% of Cardinal Capital Management Inc.'s portfolio, making the stock its 20th largest position. Cardinal Capital Management Inc. owned about 0.20% of Sun Life Financial worth $66,550,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its position in shares of Sun Life Financial by 2,747.4% during the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider's stock valued at $31,000 after buying an additional 522 shares during the last quarter. Addison Advisors LLC lifted its stake in Sun Life Financial by 124.9% during the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 361 shares in the last quarter. Clean Yield Group purchased a new position in Sun Life Financial during the 3rd quarter worth $39,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Sun Life Financial in the 4th quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Sun Life Financial in the third quarter valued at about $51,000. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Price Performance

Shares of NYSE SLF traded up $0.46 during mid-day trading on Thursday, reaching $58.91. 424,446 shares of the company's stock were exchanged, compared to its average volume of 493,625. The firm has a 50-day moving average price of $59.88 and a two-hundred day moving average price of $56.21. The firm has a market capitalization of $33.81 billion, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 1.59 and a beta of 1.03. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were given a $0.621 dividend. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.22%. Sun Life Financial's payout ratio is currently 57.46%.

Analysts Set New Price Targets

Several research firms recently weighed in on SLF. 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. StockNews.com lowered Sun Life Financial from a "buy" rating to a "hold" rating in a report on Tuesday, November 19th. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently 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.