Pictet Asset Management Holding SA Has $19.33 Million Position in Sun Life Financial Inc. (NYSE:SLF)

Pictet Asset Management Holding SA lifted its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 9.3% during the 4th quarter, Holdings Channel reports. The firm owned 325,688 shares of the financial services provider’s stock after purchasing an additional 27,760 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Sun Life Financial were worth $19,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Sun Life Financial Stock Performance

NYSE:SLF opened at $58.11 on Wednesday. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85. The firm has a market cap of $33.17 billion, a price-to-earnings ratio of 15.13, a P/E/G ratio of 1.52 and a beta of 1.04. The firm’s 50-day simple moving average is $56.64 and its 200 day simple moving average is $58.00.

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

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th were issued a $0.5876 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.35 annualized dividend and a yield of 4.04%. Sun Life Financial’s dividend payout ratio is presently 60.16%.

Wall Street Analysts Forecast Growth

SLF has been the topic of several research analyst reports. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Cormark upgraded Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Two 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. According to MarketBeat, the stock currently has an average 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.