Norges Bank Buys New Holdings in Sun Life Financial Inc. (NYSE:SLF)

Norges Bank purchased a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,444,829 shares of the financial services provider’s stock, valued at approximately $382,176,000.

Other large investors also recently modified their holdings of the company. Human Investing LLC acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $26,000. Asset Planning Inc purchased a new stake in Sun Life Financial during the fourth quarter worth approximately $40,000. BankPlus Trust Department acquired a new stake in shares of Sun Life Financial in the fourth quarter worth $40,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Sun Life Financial in the 4th quarter valued at $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Sun Life Financial during the 3rd quarter valued at $51,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sun Life Financial Price Performance

NYSE:SLF opened at $56.64 on Friday. The firm has a 50-day moving average of $56.69 and a two-hundred day moving average of $57.96. The stock has a market cap of $32.33 billion, a P/E ratio of 14.75, a PEG ratio of 1.52 and a beta of 1.04. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $62.85.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data 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, equities analysts expect 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 declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be issued a $0.5876 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 annualized dividend and a yield of 4.15%. Sun Life Financial’s dividend payout ratio is presently 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.