Man Group plc Has $34.44 Million Holdings in Sun Life Financial Inc (NYSE:SLF)

Man Group plc cut its holdings in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 21.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 754,935 shares of the financial services provider’s stock after selling 206,474 shares during the quarter. Man Group plc owned about 0.13% of Sun Life Financial worth $34,438,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Advisors Asset Management Inc. increased its position in shares of Sun Life Financial by 4.8% during the fourth quarter. Advisors Asset Management Inc. now owns 4,871 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 224 shares during the period. Firestone Capital Management bought a new stake in shares of Sun Life Financial during the fourth quarter valued at approximately $33,000. Stifel Financial Corp increased its position in shares of Sun Life Financial by 4.2% during the fourth quarter. Stifel Financial Corp now owns 6,023 shares of the financial services provider’s stock valued at $278,000 after purchasing an additional 243 shares during the period. Natixis Advisors L.P. increased its position in shares of Sun Life Financial by 4.3% during the fourth quarter. Natixis Advisors L.P. now owns 10,573 shares of the financial services provider’s stock valued at $482,000 after purchasing an additional 436 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of Sun Life Financial by 4.1% during the fourth quarter. Cetera Investment Advisers now owns 16,020 shares of the financial services provider’s stock valued at $730,000 after purchasing an additional 631 shares during the period. Institutional investors own 44.31% of the company’s stock.

Shares of SLF stock opened at $29.57 on Thursday. The stock’s fifty day moving average is $41.79 and its 200-day moving average is $44.51. The stock has a market capitalization of $16.25 billion, a PE ratio of 8.91, a PEG ratio of 0.76 and a beta of 0.84. Sun Life Financial Inc has a 52 week low of $24.37 and a 52 week high of $50.13.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $0.98 by $0.36. The company had revenue of $8.53 billion for the quarter. Sun Life Financial had a return on equity of 13.62% and a net margin of 6.72%. Sun Life Financial’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 EPS. Equities research analysts forecast that Sun Life Financial Inc will post 4.02 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Sunday, March 1st will be issued a dividend of $0.416 per share. This represents a $1.66 annualized dividend and a dividend yield of 5.63%. The ex-dividend date of this dividend is Thursday, February 27th. Sun Life Financial’s payout ratio is presently 42.67%.

A number of analysts have weighed in on the company. Royal Bank of Canada reiterated a “hold” rating and issued a $67.00 price target on shares of Sun Life Financial in a research report on Friday, February 14th. TD Securities reiterated a “buy” rating and issued a $72.00 price target on shares of Sun Life Financial in a research report on Thursday, February 13th. Cfra upped their price target on Sun Life Financial from $48.00 to $52.00 and gave the company a “hold” rating in a research report on Friday, February 14th. Credit Suisse Group assumed coverage on Sun Life Financial in a research report on Friday, February 7th. They issued an “outperform” rating and a $71.00 price target on the stock. Finally, Barclays upped their price target on Sun Life Financial from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Sun Life Financial has a consensus rating of “Hold” and a consensus price target of $60.33.

Sun Life Financial Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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