Value Partners Investments Inc. Has $6.03 Million Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Value Partners Investments Inc. lowered its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 91.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,634 shares of the financial services provider’s stock after selling 1,040,456 shares during the quarter. Sun Life Financial comprises 0.2% of Value Partners Investments Inc.’s investment portfolio, making the stock its 5th biggest holding. Value Partners Investments Inc.’s holdings in Sun Life Financial were worth $6,031,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Human Investing LLC acquired a new position in shares of Sun Life Financial during the 4th quarter valued at $26,000. Asset Planning Inc acquired a new position in shares of Sun Life Financial during the fourth quarter valued at about $40,000. BankPlus Trust Department bought a new position in shares of Sun Life Financial during the 4th quarter worth about $40,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Sun Life Financial in the 4th quarter valued at about $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Sun Life Financial in the third quarter worth approximately $51,000. 52.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLF. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report 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.com, the company currently has a consensus rating of “Moderate Buy”.

Sun Life Financial Trading Up 2.1 %

NYSE SLF opened at $55.39 on Monday. The business has a fifty day simple moving average of $56.07 and a 200 day simple moving average of $57.88. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $62.85. The firm has a market capitalization of $31.62 billion, a P/E ratio of 14.43, a PEG ratio of 1.52 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 EPS 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, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th were paid a dividend of $0.5876 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.24%. The ex-dividend date of this dividend was Wednesday, February 26th. Sun Life Financial’s payout ratio is 60.16%.

Sun Life Financial 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.