Mariner LLC Has $2.38 Million Position in Sun Life Financial Inc. (NYSE:SLF)

Mariner LLC raised its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,132 shares of the financial services provider’s stock after buying an additional 1,682 shares during the period. Mariner LLC’s holdings in Sun Life Financial were worth $2,381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Human Investing LLC bought a new stake in Sun Life Financial during the 4th quarter worth approximately $26,000. Asset Planning Inc purchased a new stake in Sun Life Financial in the 4th quarter valued at $40,000. BankPlus Trust Department bought a new position in Sun Life Financial during the 4th quarter valued at $40,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Sun Life Financial during the 4th quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Sun Life Financial in the 3rd quarter worth $51,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Stock Up 1.0 %

Shares of SLF stock opened at $57.12 on Wednesday. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85. The company has a 50 day moving average of $55.83 and a 200-day moving average of $57.81. The firm has a market cap of $32.42 billion, a P/E ratio of 14.87, a PEG ratio of 1.52 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (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%. As a group, 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 declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th were given a $0.5876 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Wednesday, February 26th. Sun Life Financial’s dividend payout ratio (DPR) is currently 60.16%.

Analyst Upgrades and Downgrades

Several research firms have commented on SLF. StockNews.com lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Finally, Cormark raised Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sun Life Financial presently has an average rating of “Moderate Buy”.

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.