PNC Financial Services Group Inc. Increases Holdings in Sun Life Financial Inc. (NYSE:SLF)

PNC Financial Services Group Inc. lifted its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 18,349 shares of the financial services provider’s stock after purchasing an additional 1,415 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sun Life Financial were worth $1,089,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SLF. National Bank of Canada FI raised its stake in shares of Sun Life Financial by 28.2% in the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock worth $338,621,000 after purchasing an additional 1,284,556 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Sun Life Financial by 10.8% in the fourth quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock worth $427,712,000 after purchasing an additional 703,391 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Sun Life Financial by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after purchasing an additional 654,404 shares during the last quarter. FMR LLC raised its stake in shares of Sun Life Financial by 5.2% in 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 last quarter. Finally, Cardinal Capital Management Inc. grew its holdings in Sun Life Financial by 29.1% during the fourth quarter. Cardinal Capital Management Inc. now owns 1,123,354 shares of the financial services provider’s stock worth $66,550,000 after acquiring an additional 253,488 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Stock Up 2.0 %

Sun Life Financial stock opened at $55.40 on Monday. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85. The business’s 50-day moving average price is $56.98 and its 200 day moving average price is $57.84. The firm has a market cap of $31.74 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. Equities analysts expect that Sun Life Financial Inc. will post 5.19 EPS 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 issued a $0.5876 dividend. This represents a $2.35 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s payout ratio is currently 60.16%.

Analysts Set New Price Targets

Several analysts recently commented on the company. StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Finally, Cormark raised 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 issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, 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.