Versant Capital Management Inc Grows Position in Sun Life Financial Inc. (NYSE:SLF)

Versant Capital Management Inc boosted its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 5,413.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,072 shares of the financial services provider's stock after acquiring an additional 4,980 shares during the period. Versant Capital Management Inc's holdings in Sun Life Financial were worth $290,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in Sun Life Financial by 34.0% during the fourth quarter. Principal Financial Group Inc. now owns 23,633 shares of the financial services provider's stock worth $1,403,000 after buying an additional 6,000 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Sun Life Financial by 10.8% during 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 period. Charles Schwab Investment Management Inc. raised its position in shares of Sun Life Financial by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,596,439 shares of the financial services provider's stock worth $94,743,000 after acquiring an additional 15,908 shares in the last quarter. Intact Investment Management Inc. grew 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 worth $113,453,000 after buying an additional 1,427,815 shares during the period. Finally, Two Sigma Investments LP lifted its position in shares of Sun Life Financial by 6.9% during the 4th quarter. Two Sigma Investments LP now owns 1,202,981 shares of the financial services provider's stock valued at $71,385,000 after acquiring an additional 77,400 shares during the period. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Stock Performance

SLF stock traded down $0.11 during midday trading on Wednesday, reaching $64.80. 127,511 shares of the company's stock traded hands, compared to its average volume of 648,025. The firm has a market capitalization of $36.59 billion, a PE ratio of 16.88, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a 50-day moving average price of $59.51 and a two-hundred day moving average price of $58.68. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $65.28.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.05. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. The business had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $6.44 billion. During the same quarter in the prior year, the firm posted $1.40 EPS. As a group, analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th will be given a $0.6332 dividend. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Wednesday, May 28th. Sun Life Financial's dividend payout ratio (DPR) is 62.09%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SLF. Scotiabank restated an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Wall Street Zen downgraded Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Royal Bank of Canada boosted their target price on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a report 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, the stock presently has an average rating of "Moderate Buy" and an average target price 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.