CIBC Asset Management Inc Purchases 81,261 Shares of Sun Life Financial Inc. (NYSE:SLF)

CIBC Asset Management Inc increased its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,488,668 shares of the financial services provider’s stock after acquiring an additional 81,261 shares during the period. Sun Life Financial makes up about 1.2% of CIBC Asset Management Inc’s holdings, making the stock its 21st biggest position. CIBC Asset Management Inc’s holdings in Sun Life Financial were worth $377,311,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in shares of Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 562 shares during the period. Assetmark Inc. increased its stake in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 522 shares during the last quarter. Addison Advisors LLC raised its holdings in shares of Sun Life Financial by 124.9% in the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 361 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Sun Life Financial during the 2nd quarter valued at about $39,000. Finally, Clean Yield Group bought a new position in shares of Sun Life Financial in the third quarter worth approximately $39,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Trading Up 1.5 %

SLF stock opened at $61.12 on Friday. The firm’s 50-day moving average price is $57.12 and its two-hundred day moving average price is $52.77. The stock has a market capitalization of $38.51 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 1.55 and a beta of 1.01. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $61.61.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. The business had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Equities analysts predict that Sun Life Financial Inc. will post 4.85 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a $0.621 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.06%. Sun Life Financial’s dividend payout ratio (DPR) is presently 52.34%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SLF shares. StockNews.com upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Barclays started coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating for the company.

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.