Geode Capital Management LLC raised its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 30.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,467,275 shares of the financial services provider's stock after buying an additional 812,689 shares during the quarter. Geode Capital Management LLC owned about 0.55% of Sun Life Financial worth $210,080,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of Sun Life Financial by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 24,233,496 shares of the financial services provider's stock valued at $1,438,888,000 after buying an additional 197,887 shares in the last quarter. CIBC Asset Management Inc grew its position in Sun Life Financial by 10.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider's stock valued at $427,712,000 after acquiring an additional 703,391 shares in the last quarter. Norges Bank purchased a new stake in Sun Life Financial during the fourth quarter worth about $382,176,000. JPMorgan Chase & Co. lifted its position in shares of Sun Life Financial by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider's stock worth $164,876,000 after purchasing an additional 34,072 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its position in shares of Sun Life Financial by 295.5% during the fourth quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider's stock worth $113,453,000 after purchasing an additional 1,427,815 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company's stock.
Sun Life Financial Stock Up 2.1 %
Sun Life Financial stock traded up $1.13 during trading on Friday, reaching $55.39. The stock had a trading volume of 585,255 shares, compared to its average volume of 682,972. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $62.85. The stock has a market cap of $31.62 billion, a PE ratio of 14.43, a P/E/G ratio of 1.52 and a beta of 0.87. The business has a 50 day moving average price of $56.07 and a 200 day moving average price of $57.88.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings data 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, equities analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.
Sun Life Financial Cuts Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th were given a dividend of $0.5876 per share. This represents a $2.35 annualized dividend and a dividend yield of 4.24%. The ex-dividend date was Wednesday, February 26th. Sun Life Financial's dividend payout ratio (DPR) is presently 60.16%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on SLF shares. National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, January 15th. StockNews.com lowered Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, Cormark upgraded Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Two 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 MarketBeat, the stock currently has an average rating of "Moderate Buy".
Get Our Latest Stock Report on Sun Life Financial
Sun Life Financial Company Profile
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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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