Cumberland Partners Ltd Buys 3,770 Shares of Sun Life Financial Inc. $SLF

Cumberland Partners Ltd increased its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 12.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,686 shares of the financial services provider’s stock after purchasing an additional 3,770 shares during the quarter. Cumberland Partners Ltd’s holdings in Sun Life Financial were worth $2,304,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Sun Life Financial by 3.4% in the second quarter. Vanguard Group Inc. now owns 25,422,211 shares of the financial services provider’s stock worth $1,691,568,000 after acquiring an additional 827,119 shares during the last quarter. TD Asset Management Inc boosted its position in Sun Life Financial by 2.4% during the 1st quarter. TD Asset Management Inc now owns 16,100,340 shares of the financial services provider’s stock worth $921,330,000 after buying an additional 374,682 shares during the period. 1832 Asset Management L.P. grew its holdings in Sun Life Financial by 8.9% during the 1st quarter. 1832 Asset Management L.P. now owns 10,338,250 shares of the financial services provider’s stock worth $591,968,000 after acquiring an additional 846,735 shares during the last quarter. Federation des caisses Desjardins du Quebec increased its position in Sun Life Financial by 5.2% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 6,748,255 shares of the financial services provider’s stock valued at $385,740,000 after acquiring an additional 335,054 shares during the period. Finally, Bank of Nova Scotia lifted its holdings in shares of Sun Life Financial by 4.8% during the first quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider’s stock worth $330,848,000 after purchasing an additional 266,732 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SLF. TD Securities upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, October 7th. Evercore ISI restated an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sun Life Financial in a research note on Wednesday, October 8th. Cibc Captl Mkts downgraded shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 29th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Sun Life Financial presently has an average rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Stock Performance

SLF stock opened at $58.70 on Thursday. The stock has a fifty day moving average of $60.28 and a 200-day moving average of $61.33. Sun Life Financial Inc. has a fifty-two week low of $52.44 and a fifty-two week high of $66.81. The company has a market capitalization of $32.78 billion, a price-to-earnings ratio of 14.53, a PEG ratio of 1.67 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. The business had revenue of $944.53 million during the quarter, compared to the consensus estimate of $944.53 million. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same quarter last year, the company earned $2.33 EPS. Equities analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, November 26th will be issued a dividend of $0.92 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.64. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Wednesday, November 26th. Sun Life Financial’s dividend payout ratio (DPR) is currently 69.41%.

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.