27,772 Shares in Sun Life Financial Inc. (NYSE:SLF) Bought by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. purchased a new position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 27,772 shares of the financial services provider's stock, valued at approximately $1,648,000.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Sun Life Financial by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 24,233,496 shares of the financial services provider's stock worth $1,438,888,000 after buying an additional 197,887 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Sun Life Financial by 2.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 9,454,589 shares of the financial services provider's stock worth $562,121,000 after acquiring an additional 198,205 shares during the last quarter. CIBC Asset Management Inc raised 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. Norges Bank bought a new position in Sun Life Financial in the 4th quarter valued at approximately $382,176,000. Finally, Geode Capital Management LLC boosted its stake in Sun Life Financial by 30.6% during the 4th quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider's stock valued at $210,080,000 after purchasing an additional 812,689 shares during the last quarter. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Up 0.6%

Shares of Sun Life Financial stock traded up $0.37 during trading hours on Thursday, reaching $64.13. 641,448 shares of the stock traded hands, compared to its average volume of 654,434. The company has a 50 day moving average price of $58.92 and a 200 day moving average price of $58.57. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $64.98. The firm has a market capitalization of $36.22 billion, a price-to-earnings ratio of 16.70, a P/E/G ratio of 1.52 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.05. The business had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $6.44 billion. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. During the same period last year, the firm earned $1.40 earnings per share. Sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, May 28th will be issued a $0.6332 dividend. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 dividend on an annualized basis and a yield of 3.95%. The ex-dividend date is Wednesday, May 28th. Sun Life Financial's dividend payout ratio (DPR) is currently 62.09%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SLF shares. Scotiabank restated an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Royal Bank of Canada boosted their target price on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Finally, Wall Street Zen downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.00.

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.