CIBC Asset Management Inc lifted its position in shares of Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) by 1.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,488,668 shares of the financial services provider’s stock after purchasing an additional 81,261 shares during the quarter. Sun Life Financial accounts for 1.2% of CIBC Asset Management Inc’s investment portfolio, making the stock its 21st largest holding. CIBC Asset Management Inc owned 1.03% of Sun Life Financial worth $377,311,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in shares of Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 562 shares during the last quarter. Assetmark Inc. raised its position in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after buying an additional 522 shares during the last quarter. Addison Advisors LLC lifted its stake in 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 acquiring an additional 361 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Sun Life Financial in the second quarter valued at about $39,000. Finally, Clean Yield Group bought a new position in shares of Sun Life Financial during the third quarter valued at about $39,000. Institutional investors and hedge funds own 52.26% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts have commented on SLF shares. Barclays initiated coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. StockNews.com raised Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th.
Sun Life Financial Stock Up 1.5 %
SLF opened at $61.12 on Friday. The company’s 50-day moving average price is $57.12 and its two-hundred day moving average price is $52.77. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $61.61. The stock has a market cap of $38.51 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.55 and a beta of 1.01.
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last released its earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. As a group, sell-side analysts anticipate that Sun Life Financial Inc. will post 4.85 earnings per share for the current year.
Sun Life Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.621 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio (DPR) is currently 52.34%.
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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