Hillsdale Investment Management Inc. Purchases 353,839 Shares of 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, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 421,138 shares of the financial services provider’s stock after acquiring an additional 353,839 shares during the quarter. Sun Life Financial accounts for 1.0% of Hillsdale Investment Management Inc.’s portfolio, making the stock its 22nd biggest holding. Hillsdale Investment Management Inc. owned approximately 0.07% of Sun Life Financial worth $28,043,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Private Trust Co. NA grew its holdings in shares of 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 purchasing an additional 243 shares in the last quarter. Westside Investment Management Inc. increased 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 worth $38,000 after buying an additional 223 shares during the last quarter. Investment Management Corp VA ADV raised its position in shares of Sun Life Financial by 164.5% during the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock valued at $35,000 after buying an additional 385 shares in the last quarter. Tobam bought a new position in shares of Sun Life Financial in the 2nd quarter valued at about $44,000. Finally, Addison Advisors LLC lifted its holdings in shares of Sun Life Financial by 48.8% in the 2nd quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 231 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on SLF shares. UBS Group initiated coverage on Sun Life Financial in a research report on Thursday, October 16th. They set a “neutral” rating on the stock. National Bankshares reissued a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, November 6th. National Bank Financial lowered Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Argus raised shares of Sun Life Financial to a “strong-buy” rating in a research note on Thursday, September 4th. Finally, Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. 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 Trading Up 0.1%

Shares of SLF opened at $58.69 on Friday. Sun Life Financial Inc. has a 12 month low of $52.44 and a 12 month high of $66.81. The stock has a fifty day moving average price of $60.26 and a 200-day moving average price of $61.31. The firm has a market cap of $32.70 billion, a PE ratio of 14.53, a P/E/G 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 for the quarter, topping the consensus estimate of $1.30 by $0.05. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The firm had revenue of $944.53 million for the quarter, compared to the consensus estimate of $944.53 million. During the same period in the previous year, the business earned $2.33 EPS. As a group, research analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

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