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Bank of Nova Scotia Trust Co. cut its stake in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 196,843 shares of the financial services provider’s stock after selling 757 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in Sun Life Financial were worth $6,534,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in Sun Life Financial by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 15,802,197 shares of the financial services provider’s stock valued at $628,295,000 after acquiring an additional 403,363 shares in the last quarter. Vanguard Group Inc lifted its stake in Sun Life Financial by 2.6% during the 3rd quarter. Vanguard Group Inc now owns 15,802,197 shares of the financial services provider’s stock valued at $628,295,000 after acquiring an additional 403,363 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its stake in Sun Life Financial by 10.7% during the 4th quarter. Beutel Goodman & Co Ltd. now owns 12,832,665 shares of the financial services provider’s stock valued at $42,584,000 after acquiring an additional 1,236,389 shares in the last quarter. Mackenzie Financial Corp lifted its stake in Sun Life Financial by 53.2% during the 4th quarter. Mackenzie Financial Corp now owns 8,668,680 shares of the financial services provider’s stock valued at $287,713,000 after acquiring an additional 3,009,510 shares in the last quarter. Finally, Letko Brosseau & Associates Inc. lifted its stake in Sun Life Financial by 9.7% during the 4th quarter. Letko Brosseau & Associates Inc. now owns 8,539,210 shares of the financial services provider’s stock valued at $283,161,000 after acquiring an additional 755,590 shares in the last quarter. Institutional investors and hedge funds own 41.07% of the company’s stock. Get Sun Life Financial alerts:
Several equities analysts have weighed in on the company. Scotiabank restated a “hold” rating and set a $54.00 price objective on shares of Sun Life Financial in a research note on Wednesday, February 20th. Canaccord Genuity restated a “hold” rating on shares of Sun Life Financial in a research note on Tuesday, February 5th. Zacks Investment Research cut Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Thursday, January 3rd. Argus upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Monday, December 31st. They noted that the move was a valuation call. Finally, CIBC restated an “average” rating and set a $53.00 price objective on shares of Sun Life Financial in a research note on Thursday, December 20th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $52.00. NYSE SLF opened at $37.80 on Friday. The firm has a market cap of $23.27 billion, a PE ratio of 10.08 and a beta of 0.86. Sun Life Financial Inc has a one year low of $31.49 and a one year high of $43.99.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, February 13th. The financial services provider reported $1.19 EPS for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.32. The company had revenue of $8.18 billion for the quarter, compared to analysts’ expectations of $6.28 billion. Sun Life Financial had a return on equity of 13.83% and a net margin of 9.71%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $1.05 EPS. On average, research analysts predict that Sun Life Financial Inc will post 3.77 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Friday, March 1st will be paid a dividend of $0.381 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.03%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Thursday, February 28th. Sun Life Financial’s payout ratio is presently 40.53%.
Sun Life Financial Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.
