6,444,829 Shares in Sun Life Financial Inc. (NYSE:SLF) Purchased by Norges Bank

Norges Bank acquired a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,444,829 shares of the financial services provider's stock, valued at approximately $382,176,000. Norges Bank owned 1.03% of Sun Life Financial as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cerity Partners LLC lifted its position in Sun Life Financial by 88.9% in the 3rd quarter. Cerity Partners LLC now owns 29,815 shares of the financial services provider's stock valued at $1,730,000 after acquiring an additional 14,034 shares in the last quarter. FMR LLC raised its stake in shares of Sun Life Financial by 5.2% in the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider's stock worth $301,047,000 after purchasing an additional 257,178 shares during the last quarter. BNP Paribas Financial Markets bought a new position in shares of Sun Life Financial in the third quarter valued at approximately $594,000. Bridgewater Associates LP boosted its position in shares of Sun Life Financial by 45.8% during the third quarter. Bridgewater Associates LP now owns 19,347 shares of the financial services provider's stock valued at $1,123,000 after buying an additional 6,081 shares during the last quarter. Finally, Financial Counselors Inc. grew its holdings in Sun Life Financial by 29.3% during the third quarter. Financial Counselors Inc. now owns 7,823 shares of the financial services provider's stock worth $454,000 after buying an additional 1,774 shares in the last quarter. Institutional investors own 52.26% of the company's stock.

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Sun Life Financial Stock Up 1.1 %

SLF stock traded up $0.63 during midday trading on Monday, hitting $57.27. The company's stock had a trading volume of 419,621 shares, compared to its average volume of 685,259. The stock has a market cap of $32.69 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.52 and a beta of 1.04. The stock's 50-day moving average price is $56.66 and its 200 day moving average price is $57.99. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $62.85.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping 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, equities analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The business 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. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.35 annualized dividend and a dividend yield of 4.10%. Sun Life Financial's payout ratio is currently 60.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. StockNews.com cut Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. 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. 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 equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sun Life Financial currently has an average rating of "Moderate Buy".

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.