AMP Capital Investors Ltd lessened its holdings in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 29.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,852 shares of the financial services provider’s stock after selling 72,031 shares during the quarter. AMP Capital Investors Ltd’s holdings in Sun Life Financial were worth $7,074,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in SLF. Scotia Capital Inc. grew its position in shares of Sun Life Financial by 3.4% in the fourth quarter. Scotia Capital Inc. now owns 2,103,855 shares of the financial services provider’s stock valued at $86,815,000 after purchasing an additional 69,440 shares during the last quarter. MML Investors Services LLC boosted its stake in shares of Sun Life Financial by 24.0% in the fourth quarter. MML Investors Services LLC now owns 12,962 shares of the financial services provider’s stock valued at $535,000 after buying an additional 2,507 shares during the period. Amundi Pioneer Asset Management Inc. boosted its stake in shares of Sun Life Financial by 85.7% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 1,719,037 shares of the financial services provider’s stock valued at $70,928,000 after buying an additional 793,087 shares during the period. AXA boosted its stake in shares of Sun Life Financial by 42.3% in the fourth quarter. AXA now owns 62,164 shares of the financial services provider’s stock valued at $2,565,000 after buying an additional 18,464 shares during the period. Finally, Unio Capital LLC bought a new stake in shares of Sun Life Financial in the fourth quarter valued at approximately $380,000. 41.46% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Morgan Stanley cut their price target on Sun Life Financial from $57.00 to $56.00 and set an “equal weight” rating for the company in a research note on Thursday. Zacks Investment Research cut Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. BMO Capital Markets upgraded Sun Life Financial from a “market perform” rating to an “outperform” rating in a research note on Friday, February 16th. Scotiabank upgraded Sun Life Financial from a “sector perform” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Wednesday, January 31st. Finally, TD Securities upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Monday, January 15th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $53.17.
Shares of SLF traded down $0.64 during trading hours on Friday, reaching $40.33. The stock had a trading volume of 686,850 shares, compared to its average volume of 605,125. The stock has a market capitalization of $24,524.96, a price-to-earnings ratio of 12.60, a PEG ratio of 1.58 and a beta of 0.91. Sun Life Financial Inc has a 12 month low of $32.22 and a 12 month high of $44.50. The company has a debt-to-equity ratio of 0.23, a quick ratio of 5.06 and a current ratio of 5.06.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 14th. The financial services provider reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. The business had revenue of $6.81 billion during the quarter. Sun Life Financial had a return on equity of 12.61% and a net margin of 7.59%. equities analysts forecast that Sun Life Financial Inc will post 3.66 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 29th. Investors of record on Thursday, March 1st were issued a $0.3617 dividend. This represents a $1.45 dividend on an annualized basis and a yield of 3.59%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend was Wednesday, February 28th. Sun Life Financial’s dividend payout ratio is presently 45.63%.
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Sun Life Financial Company Profile
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.
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