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

Value Partners Investments Inc. increased its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1,002.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,120,888 shares of the financial services provider's stock after purchasing an additional 1,019,254 shares during the period. Sun Life Financial accounts for 5.5% of Value Partners Investments Inc.'s investment portfolio, making the stock its 3rd biggest position. Value Partners Investments Inc. owned about 0.20% of Sun Life Financial worth $64,216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SLF. BankPlus Trust Department purchased a new stake in shares of Sun Life Financial in the fourth quarter valued at $40,000. GeoWealth Management LLC grew its position in Sun Life Financial by 4,657.1% during the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock valued at $59,000 after acquiring an additional 978 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in Sun Life Financial during the fourth quarter valued at about $95,000. CX Institutional purchased a new stake in Sun Life Financial during the first quarter valued at about $109,000. Finally, Blue Trust Inc. grew its position in Sun Life Financial by 7.6% during the first quarter. Blue Trust Inc. now owns 3,437 shares of the financial services provider's stock valued at $197,000 after acquiring an additional 243 shares during the period. Hedge funds and other institutional investors own 52.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SLF shares. Scotiabank reissued an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Finally, Royal Bank Of Canada boosted their price target on Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. Two equities 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.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.

Sun Life Financial Trading Up 0.7%

Shares of SLF traded up $0.47 during midday trading on Friday, reaching $65.90. 628,832 shares of the company were exchanged, compared to its average volume of 624,976. The stock has a 50-day moving average price of $62.68 and a 200-day moving average price of $59.10. The company has a market cap of $37.14 billion, a price-to-earnings ratio of 16.77, a P/E/G ratio of 1.79 and a beta of 0.92. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $66.56.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.05. The company had revenue of $7.91 billion for 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 quarter in the previous year, the firm posted $1.40 earnings per share. Equities research 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 disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be paid a dividend of $0.6332 per share. This represents a $2.53 dividend on an annualized basis and a dividend yield of 3.84%. The ex-dividend date of this dividend is Wednesday, May 28th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's payout ratio is currently 64.89%.

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.