TD Waterhouse Canada Inc. Raises Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

TD Waterhouse Canada Inc. raised its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,964,504 shares of the financial services provider’s stock after purchasing an additional 4,765 shares during the quarter. Sun Life Financial accounts for 0.9% of TD Waterhouse Canada Inc.’s portfolio, making the stock its 26th largest position. TD Waterhouse Canada Inc. owned approximately 0.31% of Sun Life Financial worth $116,288,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SLF. Human Investing LLC purchased a new stake in Sun Life Financial in the fourth quarter valued at approximately $26,000. Asset Planning Inc purchased a new stake in shares of Sun Life Financial in the 4th quarter valued at $40,000. BankPlus Trust Department acquired a new stake in shares of Sun Life Financial in the fourth quarter worth $40,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Sun Life Financial during the fourth quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in Sun Life Financial during the third quarter valued at $51,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Cormark raised Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Finally, StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Sun Life Financial has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Performance

SLF stock opened at $56.40 on Monday. The firm’s fifty day moving average is $55.85 and its 200 day moving average is $57.83. The firm has a market cap of $32.19 billion, a PE ratio of 14.69, a P/E/G ratio of 1.52 and a beta of 0.87. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $62.85.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. Research analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.5876 per share. This represents a $2.35 annualized dividend and a dividend yield of 4.17%. The ex-dividend date was Wednesday, February 26th. Sun Life Financial’s payout ratio is 60.16%.

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.