Mesirow Financial Investment Management Inc. Invests $202,000 in Sun Life Financial Inc. (NYSE:SLF)

Mesirow Financial Investment Management Inc. bought a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 3,410 shares of the financial services provider’s stock, valued at approximately $202,000.

Other institutional investors also recently modified their holdings of the company. Human Investing LLC acquired a new position in shares of Sun Life Financial during the fourth quarter worth approximately $26,000. Assetmark Inc. grew its holdings in Sun Life Financial by 2,747.4% during the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after buying an additional 522 shares in the last quarter. Addison Advisors LLC grew its holdings in Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after buying an additional 361 shares in the last quarter. Asset Planning Inc bought a new stake in Sun Life Financial during the fourth quarter worth $40,000. Finally, BankPlus Trust Department bought a new stake in Sun Life Financial during the fourth quarter worth $40,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $55.62 on Monday. The company has a market capitalization of $31.86 billion, a PE ratio of 14.48, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04. The business has a fifty day moving average price of $57.45 and a two-hundred day moving average price of $57.82. 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 announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) 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%. Sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be paid a $0.5876 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a yield of 4.23%. Sun Life Financial’s dividend payout ratio (DPR) is presently 60.16%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLF. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.