CIBC Asset Management Inc lifted its position in shares of Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) by 10.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,192,059 shares of the financial services provider’s stock after purchasing an additional 703,391 shares during the quarter. Sun Life Financial accounts for about 1.4% of CIBC Asset Management Inc’s holdings, making the stock its 19th largest holding. CIBC Asset Management Inc’s holdings in Sun Life Financial were worth $427,712,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of Sun Life Financial by 0.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock valued at $3,635,000 after buying an additional 200 shares in the last quarter. Triasima Portfolio Management inc. raised its holdings in shares of Sun Life Financial by 0.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 47,900 shares of the financial services provider’s stock valued at $2,843,000 after buying an additional 250 shares in the last quarter. Five Oceans Advisors raised its holdings in shares of Sun Life Financial by 8.1% during the 4th quarter. Five Oceans Advisors now owns 3,875 shares of the financial services provider’s stock valued at $230,000 after buying an additional 292 shares in the last quarter. State Street Corp raised its holdings in shares of Sun Life Financial by 0.8% during the 3rd quarter. State Street Corp now owns 39,478 shares of the financial services provider’s stock valued at $2,291,000 after buying an additional 330 shares in the last quarter. Finally, Addison Advisors LLC raised its holdings in shares of Sun Life Financial by 124.9% during the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after buying an additional 361 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms recently issued reports on SLF. StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.
Sun Life Financial Price Performance
SLF opened at $55.17 on Monday. The firm has a market cap of $34.65 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.61 and a beta of 1.03. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $62.85. The stock’s 50 day simple moving average is $58.78 and its 200 day simple moving average is $57.23.
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last issued its quarterly earnings data 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 return on equity of 17.44% and a net margin of 7.32%. As a group, sell-side analysts anticipate that Sun Life Financial Inc. will post 4.76 EPS for the current year.
Sun Life Financial Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be given a $0.5876 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.26%. Sun Life Financial’s dividend payout ratio is currently 57.46%.
Sun Life Financial 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.
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