Value Partners Investments Inc. Purchases 1,019,254 Shares of Sun Life Financial Inc. (NYSE:SLF)

Value Partners Investments Inc. increased its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1,002.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,120,888 shares of the financial services provider's stock after acquiring an additional 1,019,254 shares during the period. Sun Life Financial comprises 5.5% of Value Partners Investments Inc.'s investment portfolio, making the stock its 3rd biggest position. Value Partners Investments Inc. owned approximately 0.20% of Sun Life Financial worth $64,216,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. increased its holdings in Sun Life Financial by 236.9% during the 1st quarter. Bessemer Group Inc. now owns 70,278 shares of the financial services provider's stock worth $4,026,000 after purchasing an additional 49,418 shares during the period. Blue Trust Inc. increased its holdings in Sun Life Financial by 7.6% during the 1st quarter. Blue Trust Inc. now owns 3,437 shares of the financial services provider's stock worth $197,000 after purchasing an additional 243 shares during the period. Advisory Resource Group increased its holdings in Sun Life Financial by 4.0% during the 1st quarter. Advisory Resource Group now owns 19,846 shares of the financial services provider's stock worth $1,136,000 after purchasing an additional 760 shares during the period. Grimes & Company Inc. increased its holdings in Sun Life Financial by 17.2% during the 1st quarter. Grimes & Company Inc. now owns 4,030 shares of the financial services provider's stock worth $231,000 after purchasing an additional 590 shares during the period. Finally, Lorne Steinberg Wealth Management Inc. increased its holdings in Sun Life Financial by 0.9% during the 1st quarter. Lorne Steinberg Wealth Management Inc. now owns 115,925 shares of the financial services provider's stock worth $6,641,000 after purchasing an additional 985 shares during the period. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Trading Down 0.3%

Sun Life Financial stock opened at $64.92 on Thursday. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $65.56. The stock has a 50 day moving average of $62.31 and a two-hundred day moving average of $59.06. The stock has a market capitalization of $36.59 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 1.76 and a beta of 0.92.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, beating the consensus estimate of $1.22 by $0.05. The business had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $6.44 billion. Sun Life Financial had a return on equity of 17.33% and a net margin of 7.47%. During the same period last year, the firm earned $1.40 EPS. Equities analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders 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 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend is Wednesday, May 28th. Sun Life Financial's dividend payout ratio (DPR) is currently 64.89%.

Analyst Upgrades and Downgrades

SLF has been the topic of several recent research reports. Royal Bank Of Canada upped their price target on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.

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