JCIC Asset Management Inc. Has $6.17 Million Stake in Sun Life Financial Inc. (NYSE:SLF)

JCIC Asset Management Inc. grew its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 106,346 shares of the financial services provider’s stock after buying an additional 4,390 shares during the quarter. Sun Life Financial accounts for about 2.5% of JCIC Asset Management Inc.’s portfolio, making the stock its 14th largest holding. JCIC Asset Management Inc.’s holdings in Sun Life Financial were worth $6,168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co lifted its stake in shares of Sun Life Financial by 3.8% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock valued at $34,474,000 after acquiring an additional 23,235 shares during the last quarter. Cetera Investment Advisers raised its holdings in Sun Life Financial by 108.3% in the 1st quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock valued at $3,506,000 after buying an additional 33,401 shares during the last quarter. Twin Tree Management LP boosted its position in Sun Life Financial by 249.8% during the 1st quarter. Twin Tree Management LP now owns 274,119 shares of the financial services provider’s stock worth $14,961,000 after buying an additional 195,745 shares during the period. Forsta AP Fonden grew its holdings in Sun Life Financial by 6.5% during the 1st quarter. Forsta AP Fonden now owns 301,700 shares of the financial services provider’s stock worth $16,478,000 after acquiring an additional 18,500 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in Sun Life Financial by 845.9% during the 1st quarter. Bessemer Group Inc. now owns 20,478 shares of the financial services provider’s stock worth $1,117,000 after acquiring an additional 18,313 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays started coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $56.75 on Thursday. The firm has a market cap of $32.72 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 1.46 and a beta of 1.00. The firm has a 50 day moving average price of $55.94 and a two-hundred day moving average price of $52.12. Sun Life Financial Inc. has a 52-week low of $44.57 and a 52-week high of $58.51.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. The company had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. As a group, equities research analysts predict that Sun Life Financial Inc. will post 4.88 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were issued a $0.587 dividend. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio is currently 60.57%.

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.