Sun Life Financial Inc. (NYSE:SLF) Stake Decreased by Cumberland Partners Ltd

Cumberland Partners Ltd lessened its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,053 shares of the financial services provider’s stock after selling 300 shares during the period. Cumberland Partners Ltd’s holdings in Sun Life Financial were worth $713,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Headinvest LLC acquired a new position in shares of Sun Life Financial during the third quarter valued at approximately $39,000. RIA Advisory Group LLC acquired a new position in Sun Life Financial in the fourth quarter worth approximately $39,000. Legacy Financial Group LLC acquired a new position in Sun Life Financial in the third quarter worth approximately $40,000. HHM Wealth Advisors LLC purchased a new position in Sun Life Financial during the 3rd quarter worth approximately $62,000. Finally, Pacifica Partners Inc. grew its position in Sun Life Financial by 83.5% during the 4th quarter. Pacifica Partners Inc. now owns 1,288 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 586 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group assumed coverage on shares of Sun Life Financial in a research note on Thursday, February 22nd. They set a “buy” rating for the company.

Sun Life Financial Trading Down 0.4 %

NYSE SLF traded down $0.19 on Wednesday, reaching $51.66. The company’s stock had a trading volume of 244,452 shares, compared to its average volume of 605,109. The firm has a market cap of $30.09 billion, a PE ratio of 13.31, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. The business has a 50-day moving average price of $53.54 and a 200 day moving average price of $51.32. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $55.46.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter. Analysts anticipate 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 disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were issued a $0.581 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 4.50%. The ex-dividend date was Tuesday, February 27th. Sun Life Financial’s dividend payout ratio is currently 59.79%.

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.