Hillsdale Investment Management Inc. Boosts Stock Position in Sun Life Financial Inc. $SLF

Hillsdale Investment Management Inc. grew its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 525.8% during the second quarter, Holdings Channel reports. The firm owned 421,138 shares of the financial services provider’s stock after acquiring an additional 353,839 shares during the period. Sun Life Financial makes up approximately 1.0% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 22nd largest position. Hillsdale Investment Management Inc.’s holdings in Sun Life Financial were worth $28,043,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Private Trust Co. NA boosted its position in Sun Life Financial by 130.6% in the second quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock valued at $29,000 after buying an additional 243 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Sun Life Financial by 62.8% in the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 223 shares during the last quarter. Investment Management Corp VA ADV boosted its holdings in shares of Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 385 shares during the last quarter. Tobam purchased a new position in shares of Sun Life Financial during the second quarter worth $44,000. Finally, Addison Advisors LLC lifted its position in Sun Life Financial by 48.8% during the second quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 231 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLF has been the topic of several analyst reports. Royal Bank Of Canada reiterated a “sector perform” rating and set a $84.00 price objective on shares of Sun Life Financial in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, October 8th. National Bankshares reissued a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. National Bank Financial lowered Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Finally, TD Securities raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.50.

Sun Life Financial Stock Performance

Shares of SLF opened at $58.69 on Friday. The stock has a 50 day moving average price of $60.26 and a 200 day moving average price of $61.31. Sun Life Financial Inc. has a one year low of $52.44 and a one year high of $66.81. The stock has a market capitalization of $32.70 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 announced its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.05. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The company had revenue of $944.53 million for the quarter, compared to analysts’ expectations of $944.53 million. During the same quarter in the previous year, the company posted $2.33 EPS. On average, analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, November 26th will be paid a dividend of $0.92 per share. The ex-dividend date of this dividend is Wednesday, November 26th. This represents a $3.68 annualized dividend and a yield of 6.3%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.64. Sun Life Financial’s dividend payout ratio 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.