Heathbridge Capital Management Ltd. Takes $244,000 Position in Sun Life Financial Inc. (NYSE:SLF)

Heathbridge Capital Management Ltd. purchased a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,200 shares of the financial services provider’s stock, valued at approximately $244,000. Sun Life Financial comprises approximately 0.1% of Heathbridge Capital Management Ltd.’s portfolio, making the stock its 25th largest position.

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

Sun Life Financial Stock Up 0.3 %

Shares of SLF stock opened at $57.18 on Friday. Sun Life Financial Inc. has a 12 month low of $44.57 and a 12 month high of $58.51. The firm has a market cap of $32.96 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.47 and a beta of 1.00. The stock has a 50-day moving average price of $55.35 and a 200 day moving average price of $52.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results 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. The company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. Sell-side analysts predict that Sun Life Financial Inc. will post 4.88 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a dividend yield of 4.11%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s payout ratio is 60.57%.

Wall Street Analyst Weigh In

Separately, Barclays started coverage on Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating on the stock.

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.