Mackenzie Financial Corp Has $730.93 Million Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Mackenzie Financial Corp trimmed its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 14,086,704 shares of the financial services provider’s stock after selling 357,140 shares during the period. Sun Life Financial comprises approximately 1.1% of Mackenzie Financial Corp’s holdings, making the stock its 17th largest holding. Mackenzie Financial Corp’s holdings in Sun Life Financial were worth $730,926,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLF. Money Concepts Capital Corp acquired a new position in shares of Sun Life Financial in the fourth quarter worth about $26,000. Achmea Investment Management B.V. acquired a new position in shares of Sun Life Financial in the first quarter worth about $32,000. ST Germain D J Co. Inc. acquired a new position in shares of Sun Life Financial in the second quarter worth about $34,000. IFP Advisors Inc boosted its holdings in shares of Sun Life Financial by 166.9% in the second quarter. IFP Advisors Inc now owns 678 shares of the financial services provider’s stock worth $35,000 after buying an additional 424 shares during the period. Finally, Headinvest LLC purchased a new stake in shares of Sun Life Financial in the third quarter worth approximately $39,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Sun Life Financial Stock Down 0.4 %

Sun Life Financial stock traded down $0.20 on Monday, hitting $50.75. The company’s stock had a trading volume of 107,634 shares, compared to its average volume of 621,372. The firm has a market cap of $29.56 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of 1.26 and a beta of 1.01. The company has a fifty day moving average price of $53.74 and a 200-day moving average price of $51.18. Sun Life Financial Inc. has a one year low of $44.57 and a one year high of $55.46.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results 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. The business 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%. Analysts anticipate that Sun Life Financial Inc. will post 5.07 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were paid a dividend of $0.581 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, February 27th. This represents a $2.32 annualized dividend and a yield of 4.58%. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.79%.

Sun Life Financial Company 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.