Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC trimmed its holdings in shares of Sun Life Financial Inc. (NYSE:SLFFree Report) (TSE:SLF) by 4.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,829 shares of the financial services provider’s stock after selling 598 shares during the period. Orion Portfolio Solutions LLC’s holdings in Sun Life Financial were worth $609,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of SLF. Canoe Financial LP raised its holdings in shares of Sun Life Financial by 7,959.7% during the fourth quarter. Canoe Financial LP now owns 45,648,390 shares of the financial services provider’s stock worth $2,367,326,000 after purchasing an additional 45,082,012 shares during the period. Norges Bank acquired a new stake in shares of Sun Life Financial in the 4th quarter worth about $335,757,000. AGF Management Ltd. increased its holdings in shares of Sun Life Financial by 91.7% in the 4th quarter. AGF Management Ltd. now owns 1,535,288 shares of the financial services provider’s stock worth $79,620,000 after acquiring an additional 734,549 shares during the period. Toronto Dominion Bank increased its holdings in shares of Sun Life Financial by 9.1% in the 3rd quarter. Toronto Dominion Bank now owns 4,436,203 shares of the financial services provider’s stock worth $216,487,000 after acquiring an additional 371,693 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Sun Life Financial by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,472,123 shares of the financial services provider’s stock worth $1,096,640,000 after acquiring an additional 361,798 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SLF shares. Jefferies Financial Group started coverage on shares of Sun Life Financial in a report on Thursday, February 22nd. They issued a “buy” rating on the stock. Argus raised shares of Sun Life Financial to a “strong-buy” rating in a report on Monday.

Check Out Our Latest Report on Sun Life Financial

Sun Life Financial Stock Down 0.1 %

Shares of SLF opened at $49.50 on Thursday. The firm has a 50-day moving average price of $51.60 and a 200 day moving average price of $52.05. The firm has a market capitalization of $28.76 billion, a PE ratio of 12.66, a P/E/G ratio of 1.27 and a beta of 1.00. Sun Life Financial Inc. has a 52-week low of $44.57 and a 52-week high of $55.46.

Sun Life Financial (NYSE:SLFGet Free Report) (TSE:SLF) last announced its earnings results on Thursday, May 9th. The financial services provider reported $1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). The company had revenue of $5.10 billion during the quarter, compared to the consensus estimate of $7.25 billion. Sun Life Financial had a net margin of 8.94% and a return on equity of 16.97%. On average, equities analysts expect that Sun Life Financial Inc. will post 4.88 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Wednesday, May 29th will be given a $0.588 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 4.75%. The ex-dividend date of this dividend is Wednesday, May 29th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.58. Sun Life Financial’s dividend payout ratio is currently 60.10%.

About Sun Life Financial

(Free Report)

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.

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

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