Generali Asset Management SPA SGR Takes Position in Sun Life Financial Inc. (NYSE:SLF)

Generali Asset Management SPA SGR acquired a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 101,546 shares of the financial services provider’s stock, valued at approximately $6,026,000.

Other hedge funds have also made changes to their positions in the company. Human Investing LLC acquired a new position in shares of Sun Life Financial during the 4th quarter valued at about $26,000. Assetmark Inc. grew its holdings in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after buying an additional 522 shares during the last quarter. Asset Planning Inc acquired a new stake in Sun Life Financial in the 4th quarter valued at approximately $40,000. BankPlus Trust Department acquired a new stake in Sun Life Financial in the 4th quarter valued at approximately $40,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in Sun Life Financial in the 4th quarter valued at approximately $45,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Trading Down 0.1 %

Shares of NYSE:SLF opened at $56.45 on Wednesday. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $62.85. The firm has a market capitalization of $35.29 billion, a PE ratio of 14.70, a PEG ratio of 1.52 and a beta of 1.04. The business’s 50 day moving average is $56.89 and its 200-day moving average is $57.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced 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 return on equity of 16.86% and a net margin of 8.08%. On average, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be given a dividend of $0.5876 per share. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 annualized dividend and a dividend yield of 4.16%. Sun Life Financial’s dividend payout ratio (DPR) is presently 60.16%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SLF shares. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Cormark raised Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Finally, StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company 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.