Northwest & Ethical Investments L.P. lifted its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 16.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 688,974 shares of the financial services provider's stock after purchasing an additional 99,702 shares during the period. Sun Life Financial comprises approximately 1.1% of Northwest & Ethical Investments L.P.'s portfolio, making the stock its 12th biggest holding. Northwest & Ethical Investments L.P. owned about 0.11% of Sun Life Financial worth $40,835,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Intact Investment Management Inc. lifted 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 worth $113,453,000 after buying an additional 1,427,815 shares during the period. National Bank of Canada FI lifted its stake in Sun Life Financial by 28.2% in the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider's stock worth $338,621,000 after acquiring an additional 1,284,556 shares during the period. CIBC Asset Management Inc boosted its holdings in Sun Life Financial by 10.8% in the fourth 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. The Manufacturers Life Insurance Company increased its position in Sun Life Financial by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider's stock valued at $537,288,000 after purchasing an additional 654,404 shares during the period. Finally, FMR LLC raised its holdings in Sun Life Financial by 5.2% in the 3rd 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 in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of brokerages have recently weighed in on SLF. StockNews.com lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. National Bank Financial raised Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, January 15th. Finally, Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".
Get Our Latest Stock Report on SLF
Sun Life Financial Stock Performance
Shares of Sun Life Financial stock traded up $1.19 during trading on Monday, hitting $57.39. The company's stock had a trading volume of 325,244 shares, compared to its average volume of 591,397. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85. The company has a fifty day simple moving average of $56.80 and a two-hundred day simple moving average of $57.92. The company has a market capitalization of $35.87 billion, a PE ratio of 14.94, a P/E/G 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 data on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, beating 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, analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current year.
Sun Life Financial Cuts Dividend
The company also recently disclosed 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 is Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a yield of 4.10%. Sun Life Financial's payout ratio is currently 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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