CIBC Private Wealth Group LLC Grows Holdings in Sun Life Financial Inc. (NYSE:SLF)

CIBC Private Wealth Group LLC boosted its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 182.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,979 shares of the financial services provider's stock after buying an additional 8,380 shares during the period. CIBC Private Wealth Group LLC's holdings in Sun Life Financial were worth $759,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. Human Investing LLC bought a new position in shares of Sun Life Financial during the fourth quarter valued at approximately $26,000. Asset Planning Inc bought a new stake in shares of Sun Life Financial during the fourth quarter valued at approximately $40,000. BankPlus Trust Department purchased a new stake in shares of Sun Life Financial in the fourth quarter valued at approximately $40,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Sun Life Financial in the fourth quarter worth approximately $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Sun Life Financial in the third quarter worth approximately $51,000. Institutional investors own 52.26% of the company's stock.

Wall Street Analysts Forecast Growth

SLF has been the subject of several research reports. StockNews.com cut Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Finally, National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy".

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Sun Life Financial Stock Performance

SLF stock traded up $2.25 during trading on Wednesday, reaching $55.64. 763,808 shares of the company traded hands, compared to its average volume of 690,203. The company has a market capitalization of $31.76 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87. The business has a 50 day simple moving average of $56.17 and a 200 day simple moving average of $57.92. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $62.85.

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 EPS for the quarter, beating analysts' consensus estimates 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, research analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th were paid a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Wednesday, February 26th. Sun Life Financial's dividend payout ratio (DPR) is presently 60.16%.

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.