Scotia Capital Inc. Acquires 388,308 Shares of Sun Life Financial Inc. (SLF)
Scotia Capital Inc. raised its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 23.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,041,817 shares of the company’s stock after buying an additional 388,308 shares during the period. Sun Life Financial comprises approximately 1.3% of Scotia Capital Inc.’s investment portfolio, making the stock its 17th largest position. Scotia Capital Inc. owned 0.33% of Sun Life Financial worth $78,376,000 at the end of the most recent quarter.
Several other large investors have also bought and sold shares of SLF. Great West Life Assurance Co. Can raised its stake in Sun Life Financial by 3.4% in the third quarter. Great West Life Assurance Co. Can now owns 5,304,732 shares of the company’s stock valued at $172,797,000 after buying an additional 174,914 shares in the last quarter. Russell Investments Group Ltd. acquired a new stake in Sun Life Financial during the fourth quarter valued at approximately $39,516,000. Todd Asset Management LLC raised its stake in Sun Life Financial by 33.1% in the second quarter. Todd Asset Management LLC now owns 733,152 shares of the company’s stock valued at $24,070,000 after buying an additional 182,199 shares in the last quarter. HighVista Strategies LLC acquired a new stake in Sun Life Financial during the third quarter valued at approximately $1,549,000. Finally, APG Asset Management N.V. raised its stake in Sun Life Financial by 2.5% in the third quarter. APG Asset Management N.V. now owns 2,169,526 shares of the company’s stock valued at $92,617,000 after buying an additional 53,400 shares in the last quarter. Institutional investors and hedge funds own 44.41% of the company’s stock.
Shares of Sun Life Financial Inc. (NYSE:SLF) traded down 5.17% during midday trading on Thursday, hitting $38.19. 1,795,539 shares of the stock were exchanged. The firm has a 50-day moving average price of $39.23 and a 200 day moving average price of $35.59. The firm has a market cap of $23.41 billion, a PE ratio of 13.48 and a beta of 1.14. Sun Life Financial Inc. has a 12-month low of $26.83 and a 12-month high of $40.57.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Stockholders of record on Friday, March 3rd will be given a dividend of $0.321 per share. The ex-dividend date of this dividend is Wednesday, March 1st. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.31. This represents a $1.28 dividend on an annualized basis and a dividend yield of 3.36%. Sun Life Financial’s dividend payout ratio (DPR) is 44.48%.
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Several research firms recently commented on SLF. Argus lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Saturday, December 31st. Canaccord Genuity lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 17th. Credit Suisse Group initiated coverage on shares of Sun Life Financial in a research report on Monday, November 14th. They set an “outperform” rating on the stock. Zacks Investment Research raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, November 22nd. Finally, RBC Capital Markets reissued an “outperform” rating and set a $53.00 target price (up previously from $45.00) on shares of Sun Life Financial in a research report on Friday, November 11th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $45.83.
Sun Life Financial Company Profile
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services organization providing a range of protection and wealth products and services. It operates in five segments: Sun Life Financial Canada (SLF Canada), Sun Life Financial United States (SLF U.S.), Sun Life Financial Asset Management (SLF Asset Management), Sun Life Financial Asia (SLF Asia) and Corporate.
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