Mufg Securities Canada LTD. Has $52.18 Million Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Mufg Securities Canada LTD. raised its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 71.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 879,349 shares of the financial services provider’s stock after purchasing an additional 366,546 shares during the quarter. Sun Life Financial accounts for approximately 1.9% of Mufg Securities Canada LTD.’s portfolio, making the stock its 17th biggest holding. Mufg Securities Canada LTD.’s holdings in Sun Life Financial were worth $52,178,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its holdings in Sun Life Financial by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,580,531 shares of the financial services provider’s stock valued at $91,778,000 after buying an additional 79,155 shares during the period. Cerity Partners LLC lifted its stake in shares of Sun Life Financial by 88.9% in the 3rd quarter. Cerity Partners LLC now owns 29,815 shares of the financial services provider’s stock valued at $1,730,000 after purchasing an additional 14,034 shares during the period. Independent Advisor Alliance boosted its position in shares of Sun Life Financial by 14.6% during the 3rd quarter. Independent Advisor Alliance now owns 14,382 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 1,828 shares in the last quarter. DRW Securities LLC bought a new stake in Sun Life Financial in the third quarter worth approximately $354,000. Finally, The Manufacturers Life Insurance Company lifted its stake in Sun Life Financial by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock valued at $537,288,000 after buying an additional 654,404 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLF has been the subject of several research analyst reports. StockNews.com lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 15th. Finally, Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Sun Life Financial Price Performance

SLF opened at $57.60 on Wednesday. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85. The firm has a market capitalization of $36.00 billion, a PE ratio of 15.00, a P/E/G ratio of 1.52 and a beta of 1.04. The company’s 50-day moving average is $56.80 and its 200 day moving average is $57.94.

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

Sun Life Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be given a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s payout ratio is 60.16%.

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.