Canada Pension Plan Investment Board Grows Position in Sun Life Financial Inc. (NYSE:SLF)

Canada Pension Plan Investment Board increased its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 71.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,867,939 shares of the financial services provider's stock after buying an additional 1,200,000 shares during the quarter. Canada Pension Plan Investment Board owned 0.46% of Sun Life Financial worth $170,068,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLF. Stifel Financial Corp raised its stake in shares of Sun Life Financial by 1.6% during the third quarter. Stifel Financial Corp now owns 44,977 shares of the financial services provider's stock valued at $2,610,000 after acquiring an additional 722 shares during the last quarter. State Street Corp lifted its holdings in Sun Life Financial by 0.8% in the 3rd quarter. State Street Corp now owns 39,478 shares of the financial services provider's stock worth $2,291,000 after buying an additional 330 shares during the period. MML Investors Services LLC bought a new stake in shares of Sun Life Financial in the 3rd quarter worth approximately $237,000. Barclays PLC increased its stake in shares of Sun Life Financial by 61.3% during the third quarter. Barclays PLC now owns 5,907 shares of the financial services provider's stock valued at $343,000 after buying an additional 2,244 shares during the period. Finally, Sanctuary Advisors LLC bought a new position in shares of Sun Life Financial during the third quarter valued at approximately $878,000. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Stock Up 1.0 %

Shares of SLF stock traded up $0.58 during mid-day trading on Wednesday, reaching $57.78. 90,681 shares of the company's stock traded hands, compared to its average volume of 684,814. The company's 50-day moving average price is $55.83 and its 200-day moving average price is $57.81. The company has a market cap of $32.79 billion, a P/E ratio of 15.05, a P/E/G 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 - Get Free Report) TSE: SLF last announced its 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%. Equities analysts predict 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. Shareholders of record on Wednesday, February 26th were issued a $0.5876 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $2.35 annualized dividend and a yield of 4.07%. Sun Life Financial's dividend payout ratio (DPR) is presently 60.16%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLF. National Bank Financial upgraded shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a report on Wednesday, January 15th. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Finally, StockNews.com downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. 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 company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

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.