Sun Life Financial Inc. (NYSE:SLF) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 7.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 423,044 shares of the financial services provider’s stock after buying an additional 29,144 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sun Life Financial were worth $22,047,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Addenda Capital Inc. raised its holdings in Sun Life Financial by 21.1% during the fourth quarter. Addenda Capital Inc. now owns 148,679 shares of the financial services provider’s stock worth $7,710,000 after purchasing an additional 25,886 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Sun Life Financial during the fourth quarter worth $2,299,000. Barometer Capital Management Inc. raised its holdings in Sun Life Financial by 7.2% during the third quarter. Barometer Capital Management Inc. now owns 151,850 shares of the financial services provider’s stock worth $7,410,000 after purchasing an additional 10,200 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Sun Life Financial by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 2,897,151 shares of the financial services provider’s stock worth $141,381,000 after purchasing an additional 41,147 shares during the last quarter. Finally, Fiera Capital Corp raised its holdings in Sun Life Financial by 1.7% during the third quarter. Fiera Capital Corp now owns 678,865 shares of the financial services provider’s stock worth $33,214,000 after purchasing an additional 11,271 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Jefferies Financial Group started coverage on Sun Life Financial in a report on Thursday, February 22nd. They set a “buy” rating for the company.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $50.22 on Thursday. The stock has a fifty day moving average of $53.65 and a two-hundred day moving average of $51.19. The company has a market capitalization of $29.25 billion, a price-to-earnings ratio of 12.94, a PEG ratio of 1.24 and a beta of 1.01. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $55.46.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. The business had revenue of $13.73 billion during the quarter. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. On average, analysts forecast that Sun Life Financial Inc. will post 5.06 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were paid a $0.581 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend was Tuesday, February 27th. Sun Life Financial’s dividend payout ratio is presently 59.79%.

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.