Cumberland Partners Ltd Sells 300 Shares of Sun Life Financial Inc. (NYSE:SLF)

Cumberland Partners Ltd lowered its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,053 shares of the financial services provider’s stock after selling 300 shares during the period. Cumberland Partners Ltd’s holdings in Sun Life Financial were worth $713,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its stake in Sun Life Financial by 1.6% in the third quarter. Vanguard Group Inc. now owns 22,472,123 shares of the financial services provider’s stock valued at $1,096,640,000 after purchasing an additional 361,798 shares in the last quarter. Bank of Nova Scotia increased its stake in Sun Life Financial by 0.3% in the third quarter. Bank of Nova Scotia now owns 9,925,908 shares of the financial services provider’s stock valued at $484,388,000 after purchasing an additional 27,027 shares in the last quarter. Toronto Dominion Bank increased its stake in Sun Life Financial by 9.1% in the third quarter. Toronto Dominion Bank now owns 4,436,203 shares of the financial services provider’s stock valued at $216,487,000 after purchasing an additional 371,693 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Sun Life Financial by 4.9% during the third quarter. Legal & General Group Plc now owns 3,796,012 shares of the financial services provider’s stock valued at $186,057,000 after buying an additional 176,215 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of Sun Life Financial by 1.4% during the third quarter. JPMorgan Chase & Co. now owns 2,897,151 shares of the financial services provider’s stock valued at $141,381,000 after buying an additional 41,147 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Down 0.4 %

Sun Life Financial stock traded down $0.19 during midday trading on Wednesday, hitting $51.66. 244,452 shares of the stock were exchanged, compared to its average volume of 605,109. 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 $30.09 billion, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 1.27 and a beta of 1.01. The business’s 50-day moving average price is $53.54 and its 200-day moving average price is $51.32.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.06. The firm had revenue of $13.73 billion for the quarter. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. On average, sell-side analysts predict that Sun Life Financial Inc. will post 5.06 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were given a $0.581 dividend. The ex-dividend date was Tuesday, February 27th. This represents a $2.32 annualized dividend and a dividend yield of 4.50%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s payout ratio is 59.79%.

Analyst Ratings Changes

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

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.