Cardinal Capital Management Inc. Increases Position in Sun Life Financial Inc. (NYSE:SLF)

Cardinal Capital Management Inc. increased its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 29.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,123,354 shares of the financial services provider’s stock after purchasing an additional 253,488 shares during the quarter. Sun Life Financial makes up 2.3% of Cardinal Capital Management Inc.’s holdings, making the stock its 20th largest position. Cardinal Capital Management Inc. owned 0.20% of Sun Life Financial worth $66,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SLF. The Manufacturers Life Insurance Company lifted its position 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 valued at $537,288,000 after buying an additional 654,404 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Sun Life Financial by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock valued at $164,876,000 after acquiring an additional 34,072 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Sun Life Financial in the third quarter worth $878,000. FMR LLC grew its stake in Sun Life Financial by 5.2% during the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock worth $301,047,000 after buying an additional 257,178 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in Sun Life Financial by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,580,531 shares of the financial services provider’s stock valued at $91,778,000 after buying an additional 79,155 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

NYSE:SLF opened at $58.45 on Thursday. The firm’s fifty day moving average is $59.88 and its two-hundred day moving average is $56.21. The firm has a market cap of $33.54 billion, a price-to-earnings ratio of 13.02, a PEG ratio of 1.59 and a beta of 1.03. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $62.85.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th were issued a dividend of $0.621 per share. This represents a $2.48 annualized dividend and a yield of 4.25%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is 57.46%.

Analyst Ratings Changes

SLF has been the topic of a number of recent analyst reports. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 15th. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial presently has a consensus rating of “Moderate Buy”.

Sun Life Financial Company 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.