Signaturefd LLC Buys 1,348 Shares of Sun Life Financial Inc. (NYSE:SLF)

Signaturefd LLC raised its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.6% during the third quarter, HoldingsChannel reports. The fund owned 25,319 shares of the financial services provider’s stock after acquiring an additional 1,348 shares during the quarter. Signaturefd LLC’s holdings in Sun Life Financial were worth $1,469,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in SLF. Toronto Dominion Bank increased its stake in Sun Life Financial by 42.8% in the first quarter. Toronto Dominion Bank now owns 6,642,564 shares of the financial services provider’s stock worth $362,551,000 after purchasing an additional 1,991,360 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Sun Life Financial by 13.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock worth $421,167,000 after acquiring an additional 1,049,244 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of Sun Life Financial by 16.5% in the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock valued at $313,976,000 after purchasing an additional 905,679 shares during the period. Intact Investment Management Inc. grew its stake in Sun Life Financial by 423.9% in the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock worth $49,909,000 after purchasing an additional 823,670 shares in the last quarter. Finally, AGF Management Ltd. increased its holdings in Sun Life Financial by 46.5% during the 2nd quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock worth $135,816,000 after purchasing an additional 797,901 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

NYSE SLF opened at $56.75 on Thursday. Sun Life Financial Inc. has a one year low of $44.57 and a one year high of $58.51. The company has a market capitalization of $32.72 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.46 and a beta of 1.00. The company’s 50-day simple moving average is $55.94 and its two-hundred day simple moving average is $52.12.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. Equities analysts expect that Sun Life Financial Inc. will post 4.88 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were paid a dividend of $0.587 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is currently 60.57%.

Wall Street Analyst Weigh In

Separately, Barclays assumed coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company.

About Sun Life Financial

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.