JCIC Asset Management Inc. Has $6.17 Million Stock Position in Sun Life Financial Inc. (NYSE:SLF)

JCIC Asset Management Inc. lifted its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,346 shares of the financial services provider’s stock after purchasing an additional 4,390 shares during the period. Sun Life Financial accounts for 2.5% of JCIC Asset Management Inc.’s holdings, making the stock its 14th biggest position. JCIC Asset Management Inc.’s holdings in Sun Life Financial were worth $6,168,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently made changes to their positions in the company. Toronto Dominion Bank raised its position in Sun Life Financial by 42.8% during the first quarter. Toronto Dominion Bank now owns 6,642,564 shares of the financial services provider’s stock worth $362,551,000 after acquiring an additional 1,991,360 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Sun Life Financial by 13.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock valued at $421,167,000 after purchasing an additional 1,049,244 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Sun Life Financial by 16.5% during the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock worth $313,976,000 after purchasing an additional 905,679 shares during the period. Intact Investment Management Inc. increased its position in Sun Life Financial by 423.9% during the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock worth $49,909,000 after buying an additional 823,670 shares during the last quarter. Finally, AGF Management Ltd. raised its stake in Sun Life Financial by 46.5% in the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock valued at $135,816,000 after buying an additional 797,901 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $56.75 on Thursday. The company has a market capitalization of $32.72 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.46 and a beta of 1.00. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $58.51. The company has a 50-day simple moving average of $55.94 and a 200 day simple moving average of $52.12.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.72 billion. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. Sell-side analysts forecast that Sun Life Financial Inc. will post 4.88 EPS for the current year.

Sun Life Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a yield of 4.14%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s payout ratio is 60.57%.

Analyst Ratings Changes

Separately, Barclays initiated coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock.

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.