Polar Asset Management Partners Inc. Buys New Stake in Sun Life Financial Inc. (NYSE:SLF)

Polar Asset Management Partners Inc. bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 27,772 shares of the financial services provider's stock, valued at approximately $1,648,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Sun Life Financial during the fourth quarter valued at $382,176,000. Intact Investment Management Inc. boosted its stake 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 purchasing an additional 1,427,815 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Sun Life Financial by 2,071.4% during the fourth quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock worth $80,160,000 after buying an additional 1,288,545 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Sun Life Financial by 71.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,867,939 shares of the financial services provider's stock valued at $170,068,000 after buying an additional 1,200,000 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Sun Life Financial by 30.6% during the fourth quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider's stock valued at $210,080,000 after buying an additional 812,689 shares during the period. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Trading Down 0.4%

SLF stock opened at $62.87 on Friday. The company has a market cap of $35.68 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The stock has a 50-day moving average price of $57.70 and a two-hundred day moving average price of $58.23. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $63.39.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.05. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. During the same period in the previous year, the company posted $1.40 EPS. Equities analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm 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 is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Wednesday, May 28th. Sun Life Financial's payout ratio is currently 62.09%.

Analyst Ratings Changes

Several research analysts have weighed in on SLF shares. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a report on Monday. Scotiabank reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Cormark upgraded Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Royal Bank of Canada raised their price target on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Finally, StockNews.com cut shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.

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