LPL Financial LLC grew its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 120.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,857 shares of the financial services provider's stock after purchasing an additional 51,351 shares during the quarter. LPL Financial LLC's holdings in Sun Life Financial were worth $5,569,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. CIBC Asset Management Inc grew its holdings in shares of Sun Life Financial by 10.8% during the fourth quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider's stock worth $427,712,000 after buying an additional 703,391 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Sun Life Financial by 1.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider's stock worth $164,876,000 after acquiring an additional 34,072 shares during the period. Geode Capital Management LLC grew its stake in Sun Life Financial by 8.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,654,586 shares of the financial services provider's stock worth $156,127,000 after acquiring an additional 207,832 shares during the period. Intact Investment Management Inc. raised its holdings in Sun Life Financial by 295.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider's stock valued at $113,453,000 after acquiring an additional 1,427,815 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Sun Life Financial by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,596,439 shares of the financial services provider's stock worth $94,743,000 after purchasing an additional 15,908 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.
Sun Life Financial Stock Performance
Shares of SLF traded up $1.13 during trading hours on Friday, hitting $55.39. The stock had a trading volume of 585,255 shares, compared to its average volume of 682,972. The company's fifty day simple moving average is $56.07 and its 200 day simple moving average is $57.88. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85. The firm has a market cap of $31.62 billion, a P/E ratio of 14.43, a P/E/G ratio of 1.52 and a beta of 0.87.
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 for the quarter, beating the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.
Sun Life Financial Cuts Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th were given a $0.5876 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.24%. The ex-dividend date of this dividend was Wednesday, February 26th. Sun Life Financial's payout ratio is currently 60.16%.
Wall Street Analyst Weigh In
SLF has been the subject of several analyst reports. National Bank Financial upgraded Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, January 15th. StockNews.com downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy".
Get Our Latest Analysis on SLF
Sun Life Financial Company Profile
(
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.
Featured Stories
Before you consider Sun Life Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sun Life Financial wasn't on the list.
While Sun Life Financial currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
