Bank of Nova Scotia Trust Co. Purchases 7,155 Shares of Sun Life Financial Inc. (NYSE:SLF)

Bank of Nova Scotia Trust Co. boosted its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 316,240 shares of the financial services provider's stock after purchasing an additional 7,155 shares during the quarter. Sun Life Financial accounts for about 2.0% of Bank of Nova Scotia Trust Co.'s investment portfolio, making the stock its 15th biggest holding. Bank of Nova Scotia Trust Co. owned about 0.05% of Sun Life Financial worth $18,766,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of SLF. Norges Bank acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $382,176,000. Intact Investment Management Inc. boosted its stake in Sun Life Financial by 295.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider's stock worth $113,453,000 after purchasing an additional 1,427,815 shares during the period. Wellington Management Group LLP increased its holdings in Sun Life Financial by 2,071.4% during the 4th quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock worth $80,160,000 after purchasing an additional 1,288,545 shares in the last quarter. Canada Pension Plan Investment Board lifted its holdings in shares of Sun Life Financial by 71.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,867,939 shares of the financial services provider's stock valued at $170,068,000 after purchasing an additional 1,200,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Sun Life Financial by 30.6% during the fourth quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider's stock worth $210,080,000 after buying an additional 812,689 shares during the period. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Performance

SLF traded up $0.45 during trading on Thursday, reaching $58.29. 132,253 shares of the stock were exchanged, compared to its average volume of 685,020. The stock's 50 day moving average price is $55.88 and its two-hundred day moving average price is $57.81. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85. The stock has a market cap of $33.08 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating 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%. Equities research analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th were issued a $0.5876 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.35 annualized dividend and a dividend yield of 4.03%. Sun Life Financial's dividend payout ratio is currently 60.16%.

Analyst Ratings Changes

SLF has been the topic of several research reports. StockNews.com cut Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, January 15th. Finally, Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Two equities 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 MarketBeat, the stock has a consensus 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.