Ninepoint Partners LP Has $3.58 Million Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Ninepoint Partners LP increased its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 60,385 shares of the financial services provider’s stock after buying an additional 4,638 shares during the quarter. Sun Life Financial accounts for 0.5% of Ninepoint Partners LP’s portfolio, making the stock its 18th biggest holding. Ninepoint Partners LP’s holdings in Sun Life Financial were worth $3,583,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Private Advisor Group LLC lifted its stake in Sun Life Financial by 2.1% during the fourth quarter. Private Advisor Group LLC now owns 8,643 shares of the financial services provider’s stock worth $513,000 after purchasing an additional 181 shares during the period. Checchi Capital Advisers LLC lifted its stake in Sun Life Financial by 5.4% during the fourth quarter. Checchi Capital Advisers LLC now owns 3,719 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 192 shares during the period. Erste Asset Management GmbH lifted its stake in Sun Life Financial by 0.7% during the fourth quarter. Erste Asset Management GmbH now owns 28,400 shares of the financial services provider’s stock worth $1,693,000 after purchasing an additional 200 shares during the period. Triasima Portfolio Management inc. raised its stake in shares of Sun Life Financial by 0.5% in the fourth quarter. Triasima Portfolio Management inc. now owns 47,900 shares of the financial services provider’s stock valued at $2,843,000 after acquiring an additional 250 shares during the last quarter. Finally, Five Oceans Advisors raised its stake in shares of Sun Life Financial by 8.1% in the fourth quarter. Five Oceans Advisors now owns 3,875 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 292 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

SLF stock opened at $55.40 on Friday. The company has a 50 day moving average price of $56.98 and a 200 day moving average price of $57.81. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85. The stock has a market capitalization of $31.74 billion, a PE ratio of 14.43, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. As a group, equities analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be given a $0.5876 dividend. This represents a $2.35 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio (DPR) is presently 60.16%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SLF shares. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. 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. Finally, StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial has an average rating of “Moderate Buy”.

About Sun Life Financial

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.