Skandinaviska Enskilda Banken AB publ Purchases 971 Shares of Sun Life Financial Inc. (NYSE:SLF)

Skandinaviska Enskilda Banken AB publ boosted its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 78,717 shares of the financial services provider’s stock after acquiring an additional 971 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Sun Life Financial were worth $4,668,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 522 shares in the last quarter. Plato Investment Management Ltd bought a new position in Sun Life Financial in the 3rd quarter worth $101,000. Natixis Advisors LLC raised its holdings in Sun Life Financial by 13.3% in the 3rd quarter. Natixis Advisors LLC now owns 43,246 shares of the financial services provider’s stock worth $2,509,000 after purchasing an additional 5,086 shares in the last quarter. West Family Investments Inc. raised its holdings in Sun Life Financial by 16.9% in the 3rd quarter. West Family Investments Inc. now owns 7,179 shares of the financial services provider’s stock worth $417,000 after purchasing an additional 1,039 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in Sun Life Financial by 5.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,580,531 shares of the financial services provider’s stock worth $91,778,000 after purchasing an additional 79,155 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Sun Life Financial Price Performance

NYSE:SLF opened at $55.40 on Friday. The firm’s 50-day moving average price is $56.98 and its 200-day moving average price is $57.81. The company has a market capitalization of $31.74 billion, a PE ratio of 14.43, a P/E/G ratio of 1.52 and a beta of 1.04. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $62.85.

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

Sun Life Financial Cuts Dividend

The company 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 4.24%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio (DPR) 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.