Beutel Goodman & Co Ltd. increased its holdings in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 10.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,832,665 shares of the financial services provider’s stock after acquiring an additional 1,236,389 shares during the period. Sun Life Financial comprises approximately 3.6% of Beutel Goodman & Co Ltd.’s portfolio, making the stock its 9th biggest holding. Beutel Goodman & Co Ltd. owned about 2.14% of Sun Life Financial worth $42,584,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Addenda Capital Inc. raised its position in shares of Sun Life Financial by 12.7% in the fourth quarter. Addenda Capital Inc. now owns 35,050 shares of the financial services provider’s stock worth $1,162,000 after buying an additional 3,950 shares in the last quarter. Man Group plc increased its stake in Sun Life Financial by 262.6% in the third quarter. Man Group plc now owns 397,843 shares of the financial services provider’s stock valued at $15,816,000 after acquiring an additional 288,134 shares during the last quarter. Jane Street Group LLC bought a new position in Sun Life Financial in the third quarter valued at $588,000. Dimensional Fund Advisors LP increased its stake in Sun Life Financial by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,588,515 shares of the financial services provider’s stock valued at $63,159,000 after acquiring an additional 8,066 shares during the last quarter. Finally, DORCHESTER WEALTH MANAGEMENT Co grew its stake in shares of Sun Life Financial by 1.4% during the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 46,665 shares of the financial services provider’s stock valued at $1,549,000 after buying an additional 647 shares during the last quarter. 41.07% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on SLF. Canaccord Genuity reaffirmed an “average” rating and set a $53.00 price objective on shares of Sun Life Financial in a research note on Friday, November 9th. Zacks Investment Research cut Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Scotiabank reaffirmed a “hold” rating and set a $54.00 price objective on shares of Sun Life Financial in a research note on Wednesday, February 20th. CIBC reiterated an “average” rating and set a $53.00 target price on shares of Sun Life Financial in a report on Thursday, December 20th. Finally, Argus upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Monday, December 31st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $52.00.
Shares of SLF opened at $37.92 on Thursday. Sun Life Financial Inc has a one year low of $31.49 and a one year high of $43.99. The stock has a market capitalization of $22.81 billion, a price-to-earnings ratio of 10.11 and a beta of 0.86.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 13th. The financial services provider reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.32. Sun Life Financial had a net margin of 9.71% and a return on equity of 13.83%. The firm had revenue of $8.18 billion during the quarter, compared to analyst estimates of $6.28 billion. During the same period last year, the business earned $1.05 earnings per share. The business’s revenue was down 5.4% on a year-over-year basis. As a group, equities analysts anticipate that Sun Life Financial Inc will post 3.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 1st will be given a dividend of $0.381 per share. The ex-dividend date of this dividend is Thursday, February 28th. This represents a $1.52 annualized dividend and a dividend yield of 4.02%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.38. Sun Life Financial’s dividend payout ratio (DPR) is 40.53%.
About Sun Life Financial
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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