Franklin Resources Inc. Buys 40,997 Shares of Sun Life Financial Inc. (NYSE:SLF)

Franklin Resources Inc. boosted its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 16.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 283,417 shares of the financial services provider's stock after purchasing an additional 40,997 shares during the period. Franklin Resources Inc.'s holdings in Sun Life Financial were worth $16,807,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLF. Human Investing LLC acquired a new stake in shares of Sun Life Financial during the 4th quarter valued at about $26,000. Asset Planning Inc acquired a new stake in Sun Life Financial in the fourth quarter valued at approximately $40,000. BankPlus Trust Department bought a new stake in Sun Life Financial in the fourth quarter worth approximately $40,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Sun Life Financial during the 4th quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Sun Life Financial during the 3rd quarter valued at $51,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

Analysts Set New Price Targets

SLF has been the topic of several analyst reports. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. StockNews.com lowered Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, National Bank Financial upgraded Sun Life Financial from a "sector perform" rating to an "outperform" rating in a report on Wednesday, January 15th. Two 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's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy".

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Sun Life Financial Trading Up 2.1 %

Sun Life Financial stock traded up $1.13 on Friday, reaching $55.39. 585,255 shares of the stock were exchanged, compared to its average volume of 682,972. The stock has a market cap of $31.62 billion, a PE ratio of 14.43, a PEG ratio of 1.52 and a beta of 0.87. The firm has a fifty day moving average price of $56.07 and a two-hundred day moving average price of $57.88. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping 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%. Equities analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS 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. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.35 annualized dividend and a dividend yield of 4.24%. Sun Life Financial's dividend payout ratio is 60.16%.

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.