Zurcher Kantonalbank Zurich Cantonalbank Has $23.85 Million Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 29.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 401,851 shares of the financial services provider’s stock after buying an additional 90,305 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sun Life Financial were worth $23,848,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in SLF. The Manufacturers Life Insurance Company increased its holdings in shares of Sun Life Financial by 7.6% during the third 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 acquiring an additional 654,404 shares in the last quarter. CIBC Asset Management Inc grew its position 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 valued at $427,712,000 after purchasing an additional 703,391 shares during the period. National Bank of Canada FI increased its stake in Sun Life Financial by 28.2% during the 3rd quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock valued at $338,621,000 after purchasing an additional 1,284,556 shares in the last quarter. FMR LLC increased its stake in Sun Life Financial by 5.2% during the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after purchasing an additional 257,178 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Sun Life Financial by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock worth $164,876,000 after buying an additional 34,072 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently 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 report on Wednesday, January 15th. Cormark upgraded Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two equities research 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 company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Sun Life Financial Price Performance

SLF opened at $54.08 on Wednesday. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $62.85. The company has a market capitalization of $30.98 billion, a price-to-earnings ratio of 14.08, a P/E/G ratio of 1.52 and a beta of 1.04. The firm’s fifty day moving average price is $57.24 and its two-hundred day moving average price is $57.83.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results 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 net margin of 8.08% and a return on equity of 16.86%. As a group, equities analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be issued a $0.5876 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.35%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio is presently 60.16%.

Sun Life Financial Company 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.