Principal Financial Group Inc. Acquires 6,000 Shares of Sun Life Financial Inc. (NYSE:SLF)

Principal Financial Group Inc. increased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 34.0% during the 4th quarter, HoldingsChannel reports. The firm owned 23,633 shares of the financial services provider’s stock after buying an additional 6,000 shares during the period. Principal Financial Group Inc.’s holdings in Sun Life Financial were worth $1,403,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. increased its position in Sun Life Financial by 2,747.4% in the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 522 shares during the last quarter. Addison Advisors LLC increased its position in Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 361 shares during the last quarter. Asset Planning Inc bought a new stake in Sun Life Financial in the fourth quarter worth $40,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in Sun Life Financial in the fourth quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Sun Life Financial during the third quarter valued at $51,000. Institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLF shares. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report 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 report on Wednesday, January 15th. Finally, StockNews.com cut 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Sun Life Financial Trading Up 1.5 %

Shares of SLF opened at $55.98 on Thursday. The firm has a market capitalization of $32.07 billion, a P/E ratio of 14.58, a P/E/G ratio of 1.52 and a beta of 1.03. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85. The firm has a fifty day moving average price of $57.61 and a 200-day moving average price of $57.75.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. Analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share 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. Stockholders of record on Wednesday, February 26th will be paid a dividend of $0.5876 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio is currently 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.