Nicola Wealth Management LTD. Grows Stock Holdings in Sun Life Financial Inc. $SLF

Nicola Wealth Management LTD. boosted its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 28.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,800 shares of the financial services provider’s stock after purchasing an additional 79,500 shares during the quarter. Sun Life Financial comprises 1.9% of Nicola Wealth Management LTD.’s investment portfolio, making the stock its 17th biggest position. Nicola Wealth Management LTD.’s holdings in Sun Life Financial were worth $21,427,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC bought a new position in Sun Life Financial during the fourth quarter valued at approximately $244,000. AQR Capital Management LLC increased its holdings in Sun Life Financial by 113.8% during the 1st quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 4,270 shares during the period. Sivia Capital Partners LLC purchased a new stake in Sun Life Financial in the 2nd quarter worth approximately $204,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Sun Life Financial by 2.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,444 shares of the financial services provider’s stock worth $683,000 after buying an additional 224 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Sun Life Financial by 295.7% during the second quarter. Farther Finance Advisors LLC now owns 1,116 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 834 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLF. UBS Group assumed coverage on shares of Sun Life Financial in a report on Thursday, October 16th. They issued a “neutral” rating on the stock. Cibc Captl Mkts lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 29th. National Bankshares reiterated a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, November 6th. Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a research note on Thursday, January 8th. Finally, TD Securities upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Stock Performance

Shares of NYSE:SLF opened at $63.18 on Tuesday. The firm has a market cap of $34.99 billion, a PE ratio of 16.80 and a beta of 0.87. The firm’s 50 day simple moving average is $61.06 and its 200-day simple moving average is $60.43. Sun Life Financial Inc. has a one year low of $52.44 and a one year high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Sun Life Financial had a return on equity of 16.93% and a net margin of 7.53%.The business had revenue of $944.53 million for the quarter, compared to the consensus estimate of $944.53 million. During the same period in the prior year, the firm posted $2.33 earnings per share. Equities research analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, November 26th were given a dividend of $0.92 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.64. The ex-dividend date was Wednesday, November 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.8%. Sun Life Financial’s payout ratio is 69.41%.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.