Sun Life Financial Inc. (NYSE:SLF) Shares Acquired by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. boosted its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 29.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,123,354 shares of the financial services provider’s stock after buying an additional 253,488 shares during the quarter. Sun Life Financial comprises approximately 2.3% of Cardinal Capital Management Inc.’s portfolio, making the stock its 20th biggest holding. Cardinal Capital Management Inc.’s holdings in Sun Life Financial were worth $66,550,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SLF. American Century Companies Inc. lifted its holdings in Sun Life Financial by 11.6% in the 2nd quarter. American Century Companies Inc. now owns 137,884 shares of the financial services provider’s stock valued at $6,761,000 after purchasing an additional 14,314 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Sun Life Financial by 32.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,775,042 shares of the financial services provider’s stock worth $86,958,000 after buying an additional 431,418 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Sun Life Financial by 9.7% during the second quarter. Mercer Global Advisors Inc. ADV now owns 7,726 shares of the financial services provider’s stock worth $379,000 after acquiring an additional 682 shares during the last quarter. Blair William & Co. IL grew its stake in Sun Life Financial by 15.1% during the 2nd quarter. Blair William & Co. IL now owns 14,471 shares of the financial services provider’s stock valued at $709,000 after acquiring an additional 1,903 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in Sun Life Financial by 19.5% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,131 shares of the financial services provider’s stock valued at $153,000 after acquiring an additional 512 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Stock Down 0.9 %

SLF stock opened at $58.45 on Thursday. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $62.85. The stock has a market cap of $33.54 billion, a price-to-earnings ratio of 13.02, a price-to-earnings-growth ratio of 1.59 and a beta of 1.03. The business has a fifty day moving average of $59.88 and a two-hundred day moving average of $56.21.

Sun Life Financial Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average 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.