Intact Investment Management Inc. grew its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 295.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,911,027 shares of the financial services provider's stock after buying an additional 1,427,815 shares during the quarter. Sun Life Financial accounts for 4.0% of Intact Investment Management Inc.'s investment portfolio, making the stock its 2nd biggest position. Intact Investment Management Inc. owned 0.30% of Sun Life Financial worth $113,453,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its position in Sun Life Financial by 7.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider's stock worth $537,288,000 after purchasing an additional 654,404 shares during the period. JPMorgan Chase & Co. grew its holdings in Sun Life Financial by 1.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider's stock worth $164,876,000 after acquiring an additional 34,072 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Sun Life Financial by 34.0% in the 4th quarter. Principal Financial Group Inc. now owns 23,633 shares of the financial services provider's stock worth $1,403,000 after acquiring an additional 6,000 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Sun Life Financial by 10.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider's stock worth $427,712,000 after acquiring an additional 703,391 shares during the last quarter. Finally, Sanctuary Advisors LLC bought a new stake in Sun Life Financial in the 3rd quarter worth $878,000. Hedge funds and other institutional investors own 52.26% of the company's stock.
Sun Life Financial Price Performance
NYSE:SLF traded down $0.06 during mid-day trading on Tuesday, hitting $56.45. 479,119 shares of the company's stock were exchanged, compared to its average volume of 589,612. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $62.85. The business has a fifty day moving average price of $56.94 and a 200 day moving average price of $57.85. The company has a market cap of $35.29 billion, a PE ratio of 14.70, 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 posted its quarterly earnings data 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%. On average, equities analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.
Sun Life Financial Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders 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 4.16%. Sun Life Financial's dividend payout ratio (DPR) is presently 60.16%.
Analysts Set New Price Targets
A number of brokerages have issued reports on SLF. National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a report on Wednesday, January 15th. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Finally, StockNews.com lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Two 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 company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy".
View Our Latest Stock Analysis on Sun Life Financial
Sun Life Financial Profile
(
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.
Further Reading
Before you consider Sun Life Financial, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Sun Life Financial wasn't on the list.
While Sun Life Financial currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
