Value Partners Investments Inc. Buys 22,799 Shares of Sun Life Financial Inc. (NYSE:SLF)

Value Partners Investments Inc. boosted its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,429,976 shares of the financial services provider's stock after purchasing an additional 22,799 shares during the quarter. Sun Life Financial makes up 5.6% of Value Partners Investments Inc.'s investment portfolio, making the stock its 5th largest position. Value Partners Investments Inc. owned about 0.24% of Sun Life Financial worth $67,953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Sun Life Financial by 1.6% during the third quarter. Vanguard Group Inc. now owns 22,472,123 shares of the financial services provider's stock valued at $1,096,640,000 after buying an additional 361,798 shares during the period. Bank of Nova Scotia grew its holdings in shares of Sun Life Financial by 0.3% during the third quarter. Bank of Nova Scotia now owns 9,925,908 shares of the financial services provider's stock worth $484,388,000 after purchasing an additional 27,027 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of Sun Life Financial by 8.6% in the fourth quarter. 1832 Asset Management L.P. now owns 6,733,215 shares of the financial services provider's stock worth $312,556,000 after purchasing an additional 534,725 shares during the last quarter. Norges Bank purchased a new stake in Sun Life Financial in the fourth quarter valued at approximately $290,398,000. Finally, Toronto Dominion Bank lifted its position in Sun Life Financial by 9.1% during the third quarter. Toronto Dominion Bank now owns 4,436,203 shares of the financial services provider's stock valued at $216,487,000 after purchasing an additional 371,693 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Stock Performance

SLF traded down $0.72 during midday trading on Wednesday, hitting $52.46. The stock had a trading volume of 613,353 shares, compared to its average volume of 606,182. The company has a market cap of $30.62 billion, a P/E ratio of 13.52, a price-to-earnings-growth ratio of 1.32 and a beta of 1.01. Sun Life Financial Inc. has a 1 year low of $44.57 and a 1 year high of $55.46. The business has a fifty day moving average of $53.76 and a 200 day moving average of $51.13.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.17 by $0.06. The company had revenue of $13.73 billion for the quarter. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. On average, equities research analysts anticipate that Sun Life Financial Inc. will post 5.07 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were issued a dividend of $0.581 per share. The ex-dividend date of this dividend was Tuesday, February 27th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 4.43%. Sun Life Financial's dividend payout ratio is currently 59.79%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group began coverage on shares of Sun Life Financial in a report on Thursday, February 22nd. They set a "buy" rating for the company.

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.