CIBC Asset Management Inc Increases Stock Position in Sun Life Financial Inc. (NYSE:SLF)

CIBC Asset Management Inc lifted its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,488,668 shares of the financial services provider's stock after buying an additional 81,261 shares during the period. Sun Life Financial makes up approximately 1.2% of CIBC Asset Management Inc's holdings, making the stock its 21st largest position. CIBC Asset Management Inc owned approximately 1.03% of Sun Life Financial worth $377,311,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider's stock valued at $28,000 after purchasing an additional 562 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider's stock worth $31,000 after purchasing an additional 522 shares during the period. Addison Advisors LLC boosted its holdings in shares of Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider's stock worth $38,000 after purchasing an additional 361 shares during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Sun Life Financial in the second quarter valued at $39,000. Finally, Clean Yield Group acquired a new position in Sun Life Financial in the third quarter valued at $39,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Trading Down 1.6 %

NYSE:SLF traded down $0.96 on Friday, hitting $60.10. 147,942 shares of the stock were exchanged, compared to its average volume of 660,479. The stock has a market cap of $37.87 billion, a PE ratio of 13.56, a PEG ratio of 1.55 and a beta of 1.01. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $61.61. The stock has a fifty day moving average of $57.24 and a 200-day moving average of $52.82.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share 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 for the quarter, compared to analysts' expectations of $6.72 billion. As a group, analysts predict that Sun Life Financial Inc. will post 4.85 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a $0.621 dividend. The ex-dividend date is Wednesday, November 27th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a yield of 4.13%. Sun Life Financial's dividend payout ratio (DPR) is 52.34%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. StockNews.com upgraded Sun Life Financial from a "hold" rating to a "buy" rating in a report on Wednesday, November 6th. Barclays initiated coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company.

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.