Zurcher Kantonalbank Zurich Cantonalbank Grows Holdings in Sun Life Financial Inc. (NYSE:SLF)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 7.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,044 shares of the financial services provider’s stock after purchasing an additional 29,144 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Sun Life Financial worth $22,047,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SLF. Money Concepts Capital Corp bought a new position in Sun Life Financial in the 4th quarter worth about $26,000. Achmea Investment Management B.V. bought a new position in Sun Life Financial during the 1st quarter valued at about $32,000. IFP Advisors Inc lifted its stake in Sun Life Financial by 166.9% during the 2nd quarter. IFP Advisors Inc now owns 678 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 424 shares during the period. Headinvest LLC bought a new position in Sun Life Financial during the 3rd quarter valued at about $39,000. Finally, Legacy Financial Group LLC bought a new position in Sun Life Financial during the 3rd quarter valued at about $40,000. Institutional investors own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group started coverage on shares of Sun Life Financial in a research note on Thursday, February 22nd. They set a “buy” rating on the stock.

Sun Life Financial Stock Performance

SLF opened at $50.22 on Thursday. The company’s 50-day simple moving average is $53.65 and its two-hundred day simple moving average is $51.19. Sun Life Financial Inc. has a 52-week low of $44.57 and a 52-week high of $55.46. The stock has a market capitalization of $29.25 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.24 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.06. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. The firm had revenue of $13.73 billion for the quarter. Research analysts forecast that Sun Life Financial Inc. will post 5.06 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were paid a $0.581 dividend. This represents a $2.32 annualized dividend and a dividend yield of 4.63%. The ex-dividend date was Tuesday, February 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s dividend payout ratio is 59.79%.

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.