Ninepoint Partners LP Buys 4,638 Shares of Sun Life Financial Inc. (NYSE:SLF)

Ninepoint Partners LP lifted its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 8.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,385 shares of the financial services provider's stock after acquiring an additional 4,638 shares during the quarter. Sun Life Financial makes up about 0.5% of Ninepoint Partners LP's holdings, making the stock its 18th biggest holding. Ninepoint Partners LP's holdings in Sun Life Financial were worth $3,583,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Human Investing LLC purchased a new stake in shares of Sun Life Financial in the 4th quarter valued at approximately $26,000. Assetmark Inc. lifted its position in shares of Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 522 shares in the last quarter. Asset Planning Inc purchased a new stake in shares of Sun Life Financial in the 4th quarter valued at approximately $40,000. BankPlus Trust Department purchased a new stake in Sun Life Financial in the 4th quarter worth approximately $40,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new stake in Sun Life Financial in the 4th quarter worth approximately $45,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SLF shares. 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. Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Finally, StockNews.com downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy".

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Sun Life Financial Stock Performance

Shares of Sun Life Financial stock traded up $0.01 during midday trading on Thursday, reaching $56.72. 332,265 shares of the company's stock traded hands, compared to its average volume of 589,992. The company has a market cap of $35.45 billion, a price-to-earnings ratio of 14.77, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. The company's 50 day simple moving average is $56.86 and its 200 day simple moving average is $57.86. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 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%. As a group, equities research analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be issued a $0.5876 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.35 annualized dividend and a yield of 4.14%. Sun Life Financial's dividend payout ratio (DPR) is presently 60.16%.

Sun Life Financial Company Profile

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.