Cumberland Partners Ltd Has $684,000 Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Cumberland Partners Ltd increased its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 94.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,546 shares of the financial services provider’s stock after purchasing an additional 5,600 shares during the quarter. Cumberland Partners Ltd’s holdings in Sun Life Financial were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company increased its position in shares of Sun Life Financial by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after acquiring an additional 654,404 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Sun Life Financial by 10.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock worth $427,712,000 after purchasing an additional 703,391 shares during the period. National Bank of Canada FI grew its position in Sun Life Financial by 28.2% during the 3rd quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock worth $338,621,000 after purchasing an additional 1,284,556 shares in the last quarter. FMR LLC raised its stake in Sun Life Financial by 5.2% during the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after purchasing an additional 257,178 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Sun Life Financial by 1.2% in the third quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock valued at $164,876,000 after purchasing an additional 34,072 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analyst Ratings Changes

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

Sun Life Financial Trading Down 1.5 %

Shares of NYSE:SLF opened at $55.17 on Friday. The firm has a market cap of $34.65 billion, a price-to-earnings ratio of 14.37, a P/E/G ratio of 1.53 and a beta of 1.03. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $62.85. The business has a fifty day simple moving average of $58.34 and a 200 day simple moving average of $57.30.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping 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%. On average, sell-side analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be given a dividend of $0.5876 per share. This represents a $2.35 annualized dividend and a yield of 4.26%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s payout ratio is presently 67.19%.

About Sun Life Financial

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.