Checchi Capital Advisers LLC Boosts Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Checchi Capital Advisers LLC lifted its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,719 shares of the financial services provider’s stock after acquiring an additional 192 shares during the period. Checchi Capital Advisers LLC’s holdings in Sun Life Financial were worth $221,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. National Bank of Canada FI boosted its position in shares of Sun Life Financial by 28.2% in 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. CIBC Asset Management Inc raised its holdings in shares of Sun Life Financial by 10.8% in the fourth quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock worth $427,712,000 after buying an additional 703,391 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Sun Life Financial by 7.6% during 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 buying an additional 654,404 shares during the period. FMR LLC grew its holdings in shares of Sun Life Financial by 5.2% during the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after buying an additional 257,178 shares during the last quarter. Finally, Cardinal Capital Management Inc. increased its holdings in shares of Sun Life Financial by 29.1% in the fourth quarter. Cardinal Capital Management Inc. now owns 1,123,354 shares of the financial services provider’s stock valued at $66,550,000 after purchasing an additional 253,488 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Stock Up 0.3 %

Shares of NYSE SLF opened at $54.73 on Friday. The firm has a market cap of $31.35 billion, a price-to-earnings ratio of 14.25, a price-to-earnings-growth ratio of 1.52 and a beta of 1.03. The company’s 50-day simple moving average is $57.89 and its 200-day simple moving average is $57.56. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $62.85.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping 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%. Equities research analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be given a $0.5876 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.29%. Sun Life Financial’s dividend payout ratio (DPR) is presently 60.16%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SLF. Cormark raised Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Finally, StockNews.com cut shares of 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 given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

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.