AGF Management Ltd. Has $109.42 Million Stock Position in Sun Life Financial Inc. (NYSE:SLF)

AGF Management Ltd. decreased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 13.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,843,979 shares of the financial services provider’s stock after selling 290,077 shares during the period. AGF Management Ltd.’s holdings in Sun Life Financial were worth $109,422,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Human Investing LLC acquired a new position in shares of Sun Life Financial during the 4th quarter worth $26,000. Assetmark Inc. increased its stake in shares of Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 522 shares during the last quarter. Addison Advisors LLC increased its stake in shares of Sun Life Financial by 124.9% during the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 361 shares during the last quarter. Asset Planning Inc bought a new stake in shares of Sun Life Financial during the 4th quarter worth $40,000. Finally, BankPlus Trust Department bought a new stake in shares of Sun Life Financial during the 4th quarter worth $40,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $54.35 on Tuesday. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $62.85. The stock has a market cap of $31.13 billion, a price-to-earnings ratio of 14.15, a P/E/G ratio of 1.52 and a beta of 1.04. The firm has a fifty day moving average of $57.35 and a 200-day moving average of $57.83.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. On average, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be given a $0.5876 dividend. This represents a $2.35 annualized dividend and a yield of 4.32%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s payout ratio is presently 60.16%.

Wall Street Analysts Forecast Growth

SLF has been the subject of several recent analyst reports. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Finally, StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently 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.