Northern Trust Corp Buys 200,567 Shares of Sun Life Financial Inc. (NYSE:SLF)

Northern Trust Corp lifted its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 68.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 493,530 shares of the financial services provider’s stock after acquiring an additional 200,567 shares during the quarter. Northern Trust Corp owned approximately 0.08% of Sun Life Financial worth $29,286,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Human Investing LLC acquired a new position in shares of Sun Life Financial in the 4th quarter worth approximately $26,000. Asset Planning Inc acquired a new stake in Sun Life Financial during the 4th quarter worth about $40,000. BankPlus Trust Department bought a new position in shares of Sun Life Financial in the 4th quarter worth about $40,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Sun Life Financial in the 4th quarter valued at about $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Sun Life Financial during the 3rd quarter valued at about $51,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Trading Up 3.5 %

Shares of SLF stock opened at $62.01 on Friday. The firm has a fifty day simple moving average of $56.94 and a two-hundred day simple moving average of $58.03. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $63.34. The firm has a market capitalization of $35.19 billion, a PE ratio of 16.15, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.05. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. During the same quarter in the prior year, the business posted $1.40 EPS. On average, equities 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 business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, May 28th will be issued a dividend of $0.6332 per share. The ex-dividend date is Wednesday, May 28th. This represents a $2.53 annualized dividend and a yield of 4.08%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio is 60.16%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SLF shares. Scotiabank reissued an “outperform” rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 15th. 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, two have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Sun Life Financial 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.