Norges Bank Acquires Shares of 6,444,829 Sun Life Financial Inc. (NYSE:SLF)

Norges Bank bought a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 6,444,829 shares of the financial services provider’s stock, valued at approximately $382,176,000. Norges Bank owned approximately 1.03% of Sun Life Financial at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SLF. Human Investing LLC purchased a new stake in shares of Sun Life Financial during the 4th quarter worth approximately $26,000. Asset Planning Inc purchased a new stake in Sun Life Financial during the fourth quarter worth $40,000. BankPlus Trust Department acquired a new stake in Sun Life Financial in the fourth quarter valued at $40,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Sun Life Financial in the fourth quarter valued at $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Sun Life Financial during the 3rd quarter worth $51,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

Sun Life Financial stock opened at $56.64 on Friday. The stock has a market capitalization of $32.33 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.52 and a beta of 1.04. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85. The firm’s 50-day moving average is $56.69 and its two-hundred day moving average is $57.96.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results 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%. As a group, analysts forecast 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 will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be paid a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s payout ratio is 60.16%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SLF. 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 report on Thursday, February 13th. Finally, StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Sun Life Financial currently has an average rating of “Moderate Buy”.

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.