Korea Investment CORP Has $25.32 Million Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Korea Investment CORP lifted its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 10.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 426,705 shares of the financial services provider’s stock after acquiring an additional 41,570 shares during the period. Korea Investment CORP owned about 0.07% of Sun Life Financial worth $25,323,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in SLF. Intact Investment Management Inc. boosted its stake in Sun Life Financial by 295.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider’s stock worth $113,453,000 after purchasing an additional 1,427,815 shares during the period. National Bank of Canada FI raised its position in Sun Life Financial by 28.2% during the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock valued at $338,621,000 after buying an additional 1,284,556 shares during the period. CIBC Asset Management Inc grew its stake in Sun Life Financial by 10.8% during the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock valued at $427,712,000 after acquiring an additional 703,391 shares in the last quarter. Mufg Securities Canada LTD. increased its holdings in shares of Sun Life Financial by 71.5% in the 4th quarter. Mufg Securities Canada LTD. now owns 879,349 shares of the financial services provider’s stock valued at $52,178,000 after purchasing an additional 366,546 shares during the period. Finally, FMR LLC boosted its holdings in shares of Sun Life Financial by 5.2% during the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock worth $301,047,000 after purchasing an additional 257,178 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on SLF. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Finally, StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Down 0.9 %

Shares of SLF opened at $56.64 on Friday. The firm has a market cap of $32.33 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. The company’s fifty day moving average is $56.69 and its 200-day moving average is $57.94. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. As a group, research analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.5876 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.15%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio is 60.16%.

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.