Cerity Partners LLC Acquires 5,844 Shares of Sun Life Financial Inc. (NYSE:SLF)

Cerity Partners LLC lifted its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 79.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 13,170 shares of the financial services provider’s stock after acquiring an additional 5,844 shares during the quarter. Cerity Partners LLC’s holdings in Sun Life Financial were worth $683,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Addenda Capital Inc. lifted its stake in Sun Life Financial by 21.1% in the fourth quarter. Addenda Capital Inc. now owns 148,679 shares of the financial services provider’s stock worth $7,710,000 after purchasing an additional 25,886 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new stake in Sun Life Financial during the 4th quarter valued at about $2,299,000. International Assets Investment Management LLC purchased a new stake in Sun Life Financial during the 4th quarter valued at about $2,138,000. Barometer Capital Management Inc. grew its position in Sun Life Financial by 7.2% during the 3rd quarter. Barometer Capital Management Inc. now owns 151,850 shares of the financial services provider’s stock worth $7,410,000 after acquiring an additional 10,200 shares during the last quarter. Finally, Alberta Investment Management Corp increased its stake in Sun Life Financial by 12.6% in the 3rd quarter. Alberta Investment Management Corp now owns 2,316,743 shares of the financial services provider’s stock worth $113,558,000 after purchasing an additional 258,800 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Trading Up 0.5 %

Sun Life Financial stock opened at $51.85 on Wednesday. The firm has a market cap of $30.20 billion, a P/E ratio of 13.36, a P/E/G ratio of 1.26 and a beta of 1.01. Sun Life Financial Inc. has a 1-year low of $44.57 and a 1-year high of $55.46. The firm has a 50-day moving average of $53.54 and a 200-day moving average of $51.32.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. The business had revenue of $13.73 billion during the quarter. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. Research analysts forecast that Sun Life Financial Inc. will post 5.06 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were paid a $0.581 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.32 dividend on an annualized basis and a yield of 4.48%. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.79%.

Analysts Set New Price Targets

Separately, Jefferies Financial Group assumed coverage on shares of Sun Life Financial in a report on Thursday, February 22nd. They issued a “buy” rating on the stock.

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.