Mesirow Financial Investment Management Inc. Invests $202,000 in Sun Life Financial Inc. (NYSE:SLF)

Mesirow Financial Investment Management Inc. purchased a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,410 shares of the financial services provider’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Human Investing LLC bought a new position in shares of Sun Life Financial during the 4th quarter worth $26,000. Assetmark Inc. lifted its holdings in 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 in the last quarter. Addison Advisors LLC lifted its holdings in 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 in the last quarter. Asset Planning Inc purchased a new stake in Sun Life Financial during the 4th quarter worth about $40,000. Finally, BankPlus Trust Department purchased a new stake in Sun Life Financial during the 4th quarter worth about $40,000. Institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLF has been the topic of a number of recent research reports. Cormark raised Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Finally, StockNews.com cut 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 given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Up 0.7 %

NYSE:SLF opened at $55.62 on Monday. The business’s 50-day moving average price is $57.45 and its two-hundred day moving average price is $57.82. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85. The stock has a market cap of $31.86 billion, a P/E ratio of 14.48, a PEG ratio of 1.52 and a beta of 1.04.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share 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%. On average, equities research analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be issued a $0.5876 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 annualized dividend and a dividend yield of 4.23%. Sun Life Financial’s payout ratio is currently 60.16%.

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.