TD Asset Management Inc reduced its holdings in shares of Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,344,924 shares of the financial services provider’s stock after selling 376,575 shares during the period. Sun Life Financial comprises about 0.8% of TD Asset Management Inc’s investment portfolio, making the stock its 28th biggest position. TD Asset Management Inc owned 2.77% of Sun Life Financial worth $959,149,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Cornerstone Planning Group LLC boosted its position in shares of Sun Life Financial by 68.4% during the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 167 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Sun Life Financial by 184.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 588 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 381 shares in the last quarter. Westside Investment Management Inc. boosted its position in shares of Sun Life Financial by 38.6% during the 3rd quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 223 shares in the last quarter. LOM Asset Management Ltd acquired a new stake in shares of Sun Life Financial during the 4th quarter valued at about $53,000. Finally, Triumph Capital Management acquired a new stake in shares of Sun Life Financial during the 3rd quarter valued at about $64,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
SLF has been the topic of several recent research reports. TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a research report on Friday, May 8th. TD Cowen restated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Friday, April 24th. Finally, Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $86.50.
Sun Life Financial Stock Down 0.9%
NYSE:SLF opened at $72.11 on Thursday. The firm has a market cap of $39.96 billion, a PE ratio of 18.59 and a beta of 0.89. Sun Life Financial Inc. has a 12 month low of $56.22 and a 12 month high of $74.16. The company’s 50-day moving average price is $69.02 and its two-hundred day moving average price is $64.88.
Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. The firm had revenue of $6.41 billion for the quarter, compared to analyst estimates of $925.99 million. During the same period in the previous year, the business earned $1.82 earnings per share. On average, research analysts expect that Sun Life Financial Inc. will post 5.74 EPS for the current fiscal year.
Sun Life Financial Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 27th will be given a dividend of $0.96 per share. The ex-dividend date is Wednesday, May 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 5.3%. Sun Life Financial’s dividend payout ratio (DPR) is currently 72.94%.
Sun Life Financial Company Profile
Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.
Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.
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