Hillsdale Investment Management Inc. Purchases 116,615 Shares of Sun Life Financial Inc. (NYSE:SLF)

Hillsdale Investment Management Inc. grew its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2,365.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 121,544 shares of the financial services provider’s stock after purchasing an additional 116,615 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Sun Life Financial were worth $7,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of SLF. Human Investing LLC bought a new position in shares of Sun Life Financial during the fourth quarter worth $26,000. Asset Planning Inc bought a new position in shares of Sun Life Financial during the fourth quarter worth $40,000. BankPlus Trust Department bought a new position in shares of Sun Life Financial during the fourth quarter worth $40,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Sun Life Financial during the fourth quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Sun Life Financial during the third quarter worth $51,000. 52.26% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SLF shares. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sun Life Financial has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Down 0.8 %

Sun Life Financial stock opened at $56.23 on Friday. The company has a market cap of $35.15 billion, a price-to-earnings ratio of 14.64, a PEG ratio of 1.52 and a beta of 1.04. The firm’s fifty day moving average is $56.80 and its 200 day moving average is $57.86. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $62.85.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 research analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share 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. Stockholders of record on Wednesday, February 26th will be paid a $0.5876 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio is currently 60.16%.

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.