Sun Life Financial Inc. (NYSE:SLF) Shares Bought by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. increased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,878 shares of the financial services provider’s stock after buying an additional 2,757 shares during the period. Sun Life Financial comprises about 1.9% of Lorne Steinberg Wealth Management Inc.’s holdings, making the stock its 25th largest position. Lorne Steinberg Wealth Management Inc.’s holdings in Sun Life Financial were worth $5,544,000 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. CWM LLC raised its holdings in shares of Sun Life Financial by 12.3% in the third quarter. CWM LLC now owns 5,884 shares of the financial services provider’s stock worth $287,000 after acquiring an additional 643 shares during the last quarter. Ronald Blue Trust Inc. grew its holdings in shares of Sun Life Financial by 26.1% during the third quarter. Ronald Blue Trust Inc. now owns 2,518 shares of the financial services provider’s stock worth $131,000 after buying an additional 521 shares in the last quarter. First Affirmative Financial Network acquired a new position in shares of Sun Life Financial in the third quarter valued at approximately $242,000. Commonwealth Equity Services LLC lifted its stake in shares of Sun Life Financial by 8.6% during the third quarter. Commonwealth Equity Services LLC now owns 62,541 shares of the financial services provider’s stock valued at $3,052,000 after buying an additional 4,963 shares during the period. Finally, Cambridge Investment Research Advisors Inc. boosted its position in Sun Life Financial by 13.5% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,368 shares of the financial services provider’s stock worth $701,000 after acquiring an additional 1,713 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Trading Down 0.3 %

NYSE:SLF traded down $0.16 during mid-day trading on Wednesday, hitting $51.69. The company had a trading volume of 95,469 shares, compared to its average volume of 603,549. The business has a fifty day simple moving average of $53.54 and a 200-day simple moving average of $51.32. The firm has a market capitalization of $30.11 billion, a price-to-earnings ratio of 13.32, a PEG ratio of 1.27 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.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. The company had revenue of $13.73 billion during the quarter. As a group, research analysts anticipate that Sun Life Financial Inc. will post 5.06 earnings per share for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were given a $0.581 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 4.50%. Sun Life Financial’s dividend payout ratio (DPR) is currently 59.79%.

Analyst Ratings Changes

Separately, Jefferies Financial Group started coverage on Sun Life Financial in a report on Thursday, February 22nd. They issued a “buy” rating for the company.

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.