Connor Clark & Lunn Investment Management Ltd. cut its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,630,397 shares of the financial services provider's stock after selling 35,167 shares during the period. Sun Life Financial comprises about 1.2% of Connor Clark & Lunn Investment Management Ltd.'s holdings, making the stock its 19th largest position. Connor Clark & Lunn Investment Management Ltd. owned 0.74% of Sun Life Financial worth $274,581,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Assetmark Inc. grew its stake in 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 buying an additional 522 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Sun Life Financial by 124.9% in the third 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 during the period. Entropy Technologies LP purchased a new position in shares of Sun Life Financial during the third quarter worth approximately $788,000. Plato Investment Management Ltd acquired a new position in shares of Sun Life Financial in the 3rd quarter valued at $101,000. Finally, CIBC Asset Management Inc raised its position in Sun Life Financial by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider's stock valued at $377,311,000 after purchasing an additional 81,261 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on the stock. StockNews.com lowered shares of 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 report 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 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 issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy".
Read Our Latest Stock Analysis on SLF
Sun Life Financial Stock Down 0.7 %
Shares of Sun Life Financial stock traded down $0.41 during trading on Thursday, reaching $54.36. The company's stock had a trading volume of 2,369,170 shares, compared to its average volume of 809,054. The business has a 50 day moving average price of $57.06 and a 200-day moving average price of $57.78. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85. The company has a market capitalization of $31.14 billion, a P/E ratio of 14.16, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (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%. Research analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.
Sun Life Financial Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.5876 per share. This represents a $2.35 annualized dividend and a dividend yield of 4.32%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial's dividend payout ratio (DPR) is 60.16%.
About Sun Life Financial
(
Free Report)
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.
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