Intact Investment Management Inc. Purchases 250,740 Shares of Sun Life Financial Inc. (NYSE:SLF)

Intact Investment Management Inc. raised its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 23.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,323,050 shares of the financial services provider's stock after purchasing an additional 250,740 shares during the period. Sun Life Financial accounts for approximately 2.8% of Intact Investment Management Inc.'s investment portfolio, making the stock its 7th biggest holding. Intact Investment Management Inc. owned about 0.23% of Sun Life Financial worth $68,619,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. RIA Advisory Group LLC acquired a new position in shares of Sun Life Financial in the 4th quarter valued at $39,000. Legacy Financial Group LLC acquired a new position in shares of Sun Life Financial in the 3rd quarter valued at $40,000. Headinvest LLC acquired a new stake in Sun Life Financial during the 3rd quarter worth about $39,000. Headlands Technologies LLC acquired a new stake in Sun Life Financial during the 4th quarter worth about $43,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Sun Life Financial during the 3rd quarter worth about $62,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Trading Up 0.7 %

SLF traded up $0.35 during midday trading on Friday, hitting $51.67. 419,506 shares of the company were exchanged, compared to its average volume of 544,299. The company's 50 day simple moving average is $53.44 and its 200 day simple moving average is $51.36. The firm has a market capitalization of $30.10 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth ratio of 1.27 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.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. The company had revenue of $13.73 billion for the quarter. On average, equities analysts anticipate that Sun Life Financial Inc. will post 5.06 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were given a dividend of $0.581 per share. The ex-dividend date was Tuesday, February 27th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.56. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.50%. Sun Life Financial's dividend payout ratio (DPR) is 59.79%.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group assumed coverage on Sun Life Financial in a research report on Thursday, February 22nd. They set a "buy" rating on the stock.

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.