Geode Capital Management LLC Boosts Holdings in Sun Life Financial Inc. (NYSE:SLF)

Geode Capital Management LLC increased its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 30.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 3,467,275 shares of the financial services provider’s stock after purchasing an additional 812,689 shares during the quarter. Geode Capital Management LLC’s holdings in Sun Life Financial were worth $210,080,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Human Investing LLC purchased a new stake in Sun Life Financial in the fourth quarter valued at $26,000. Asset Planning Inc purchased a new stake in Sun Life Financial in the 4th quarter valued at about $40,000. BankPlus Trust Department acquired a new position in Sun Life Financial in the fourth quarter valued at about $40,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Sun Life Financial during the fourth quarter valued at about $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Sun Life Financial in the 3rd quarter valued at approximately $51,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Stock Down 6.4 %

Shares of SLF opened at $54.53 on Monday. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85. The company has a market cap of $31.13 billion, a P/E ratio of 14.20, a PEG ratio of 1.52 and a beta of 1.04. The firm’s 50 day moving average price is $56.56 and its 200 day moving average price is $58.02.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. Research analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Wednesday, February 26th were paid a dividend of $0.5876 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.31%. Sun Life Financial’s payout ratio is 60.16%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SLF shares. Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sun Life Financial currently has an average rating of “Moderate Buy”.

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.