Polar Asset Management Partners Inc. Invests $1.65 Million in Sun Life Financial Inc. (NYSE:SLF)

Polar Asset Management Partners Inc. purchased a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 27,772 shares of the financial services provider's stock, valued at approximately $1,648,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Human Investing LLC bought a new stake in Sun Life Financial in the 4th quarter worth about $26,000. Asset Planning Inc bought a new position in shares of Sun Life Financial during the 4th quarter valued at approximately $40,000. BankPlus Trust Department bought a new position in shares of Sun Life Financial during the 4th quarter valued at approximately $40,000. GeoWealth Management LLC grew its position in shares of Sun Life Financial by 4,657.1% during the 4th 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. Finally, JFS Wealth Advisors LLC grew its position in shares of Sun Life Financial by 432.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 838 shares during the period. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Trading Up 0.1%

Shares of SLF stock traded up $0.09 during trading on Thursday, reaching $63.20. 87,946 shares of the company's stock traded hands, compared to its average volume of 664,030. The company has a market capitalization of $35.69 billion, a P/E ratio of 16.46, a PEG ratio of 1.52 and a beta of 0.90. The firm's 50-day moving average is $58.21 and its 200 day moving average is $58.38. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $63.78.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.05. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. The business had revenue of $7.91 billion for the quarter, compared to analysts' expectations of $6.44 billion. During the same period in the prior year, the company posted $1.40 EPS. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be paid a $0.6332 dividend. 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. This represents a $2.53 annualized dividend and a yield of 4.01%. Sun Life Financial's dividend payout ratio is currently 62.09%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in 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. Royal Bank of Canada upped their price target 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. Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Finally, Wall Street Zen cut shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently 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.