Sun Life Financial Inc. (NYSE:SLF) Stake Boosted by Intact Investment Management Inc.

Intact Investment Management Inc. lifted its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 23.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,323,050 shares of the financial services provider’s stock after buying an additional 250,740 shares during the period. Sun Life Financial makes up about 2.8% of Intact Investment Management Inc.’s investment portfolio, making the stock its 7th biggest position. Intact Investment Management Inc. owned approximately 0.23% of Sun Life Financial worth $68,619,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SLF. Headinvest LLC purchased a new position in shares of Sun Life Financial in the 3rd quarter worth $39,000. RIA Advisory Group LLC purchased a new position in shares of Sun Life Financial in the 4th quarter worth $39,000. Legacy Financial Group LLC purchased a new position in Sun Life Financial during the third quarter valued at $40,000. Headlands Technologies LLC purchased a new position in Sun Life Financial during the fourth quarter valued at $43,000. Finally, HHM Wealth Advisors LLC purchased a new position in Sun Life Financial during the third quarter valued at $62,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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 Trading Up 0.7 %

NYSE SLF traded up $0.35 on Friday, hitting $51.67. 419,506 shares of the company traded hands, compared to its average volume of 544,299. The company has a market capitalization of $30.10 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 1.27 and a beta of 1.01. The business’s 50 day moving average price is $53.44 and its 200-day moving average price is $51.35. Sun Life Financial Inc. has a 52-week low of $44.57 and a 52-week high of $55.46.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share for the quarter, beating 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. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 5.06 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were given a $0.581 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.50%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, February 27th. Sun Life Financial’s payout ratio is presently 59.79%.

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.