Cardinal Capital Management Inc. Purchases 5,785 Shares of Sun Life Financial Inc. (NYSE:SLF)

Cardinal Capital Management Inc. grew its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 0.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,129,139 shares of the financial services provider's stock after acquiring an additional 5,785 shares during the period. Sun Life Financial accounts for 2.2% of Cardinal Capital Management Inc.'s portfolio, making the stock its 20th largest holding. Cardinal Capital Management Inc. owned 0.20% of Sun Life Financial worth $64,651,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Sun Life Financial during the fourth quarter valued at about $382,176,000. Intact Investment Management Inc. lifted its position in shares of Sun Life Financial by 295.5% during the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider's stock valued at $113,453,000 after buying an additional 1,427,815 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of 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 valued at $80,160,000 after acquiring an additional 1,288,545 shares during the period. Canada Pension Plan Investment Board increased its holdings in Sun Life Financial by 71.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 2,867,939 shares of the financial services provider's stock worth $170,068,000 after acquiring an additional 1,200,000 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Sun Life Financial by 30.6% in the 4th quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider's stock worth $210,080,000 after acquiring an additional 812,689 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Stock Down 0.5%

SLF stock traded down $0.32 during midday trading on Tuesday, hitting $64.75. The company's stock had a trading volume of 517,518 shares, compared to its average volume of 649,122. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $65.56. The company has a 50 day moving average of $60.10 and a two-hundred day moving average of $58.78. The firm has a market capitalization of $36.49 billion, a price-to-earnings ratio of 16.86, a price-to-earnings-growth ratio of 1.52 and a beta of 0.92.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.22 by $0.05. The firm 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 quarter in the previous year, the firm earned $1.40 earnings per share. On average, analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be issued a dividend of $0.6332 per share. This represents a $2.53 annualized dividend and a dividend yield of 3.91%. The ex-dividend date of this dividend is Wednesday, May 28th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio is 64.89%.

Wall Street Analyst Weigh In

SLF has been the topic of several analyst reports. Royal Bank of Canada lifted their price target on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Sun Life Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

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.