BankPlus Trust Department Takes $40,000 Position in Sun Life Financial Inc. (NYSE:SLF)

BankPlus Trust Department bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 681 shares of the financial services provider’s stock, valued at approximately $40,000.

Several other large investors have also recently made changes to their positions in the business. The Manufacturers Life Insurance Company increased its holdings in Sun Life Financial by 7.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after acquiring an additional 654,404 shares during the last quarter. CIBC Asset Management Inc increased its holdings 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 worth $427,712,000 after acquiring an additional 703,391 shares during the last quarter. National Bank of Canada FI increased its holdings in Sun Life Financial by 28.2% in the 3rd quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock worth $338,621,000 after acquiring an additional 1,284,556 shares during the last quarter. FMR LLC increased its holdings in Sun Life Financial by 5.2% in the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock worth $301,047,000 after acquiring an additional 257,178 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Sun Life Financial by 1.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock worth $164,876,000 after acquiring an additional 34,072 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on SLF. StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Cormark raised Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Finally, National Bank Financial raised 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 given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Up 0.4 %

Shares of NYSE SLF opened at $55.34 on Wednesday. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85. The business has a 50-day simple moving average of $58.04 and a two-hundred day simple moving average of $57.60. The company has a market cap of $31.70 billion, a P/E ratio of 14.41, a P/E/G ratio of 1.52 and a beta of 1.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued 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 return on equity of 16.86% and a net margin of 8.08%. Equities research analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The business also recently announced 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. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.35 annualized dividend and a yield of 4.25%. Sun Life Financial’s dividend payout ratio is currently 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.