Prudential Financial Inc. Acquires Shares of 56,650 Sun Life Financial Inc. (NYSE:SLF)

Prudential Financial Inc. purchased a new position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 56,650 shares of the financial services provider's stock, valued at approximately $3,362,000.

Other hedge funds have also recently made changes to their positions in the company. Human Investing LLC bought a new stake in Sun Life Financial during the 4th quarter worth approximately $26,000. Asset Planning Inc purchased a new position in shares of Sun Life Financial during the fourth quarter worth about $40,000. BankPlus Trust Department bought a new position in shares of Sun Life Financial in the fourth quarter worth approximately $40,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Sun Life Financial in the fourth quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Sun Life Financial in the 3rd quarter worth approximately $51,000. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Stock Down 0.8 %

NYSE:SLF traded down $0.47 during mid-day trading on Thursday, hitting $58.31. 644,608 shares of the company traded hands, compared to its average volume of 683,952. The stock's fifty day moving average price is $56.65 and its 200-day moving average price is $58.01. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $62.85. The firm has a market cap of $33.28 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04.

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Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results 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%. Equities analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.5876 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a yield of 4.03%. Sun Life Financial's dividend payout ratio is presently 60.16%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. 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 raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Finally, StockNews.com lowered Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy".

About Sun Life Financial

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.