Sun Life Financial Inc. (NYSE:SLF) Position Increased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board raised its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 242.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 38,611 shares of the financial services provider’s stock after buying an additional 27,325 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Sun Life Financial were worth $2,290,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC increased its holdings in Sun Life Financial by 2.1% in the fourth quarter. Private Advisor Group LLC now owns 8,643 shares of the financial services provider’s stock worth $513,000 after buying an additional 181 shares during the last quarter. Checchi Capital Advisers LLC grew its position in Sun Life Financial by 5.4% in the fourth quarter. Checchi Capital Advisers LLC now owns 3,719 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 192 shares in the last quarter. Erste Asset Management GmbH increased its stake in shares of Sun Life Financial by 0.7% during the 4th quarter. Erste Asset Management GmbH now owns 28,400 shares of the financial services provider’s stock worth $1,693,000 after purchasing an additional 200 shares during the last quarter. Triasima Portfolio Management inc. lifted its stake in shares of Sun Life Financial by 0.5% in 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 purchasing an additional 250 shares during the last quarter. Finally, Five Oceans Advisors boosted its holdings in Sun Life Financial by 8.1% in the fourth quarter. Five Oceans Advisors now owns 3,875 shares of the financial services provider’s stock worth $230,000 after purchasing an additional 292 shares in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Up 2.1 %

SLF opened at $56.62 on Tuesday. The stock’s 50 day moving average price is $56.04 and its two-hundred day moving average price is $57.87. The firm has a market capitalization of $32.32 billion, a P/E ratio of 14.74, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share 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%. As a group, analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Wednesday, February 26th were given a $0.5876 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.35 annualized dividend and a yield of 4.15%. Sun Life Financial’s dividend payout ratio (DPR) is currently 60.16%.

Analyst Ratings Changes

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

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.