AustralianSuper Pty Ltd Decreases Holdings in Sun Life Financial Inc. $SLF

AustralianSuper Pty Ltd lowered its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 30.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,561 shares of the financial services provider’s stock after selling 47,444 shares during the period. AustralianSuper Pty Ltd’s holdings in Sun Life Financial were worth $6,397,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLF. Farther Finance Advisors LLC increased its stake in Sun Life Financial by 16.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider’s stock worth $78,000 after buying an additional 186 shares in the last quarter. HB Wealth Management LLC boosted its stake in shares of Sun Life Financial by 5.8% in the third quarter. HB Wealth Management LLC now owns 3,777 shares of the financial services provider’s stock worth $227,000 after acquiring an additional 208 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of Sun Life Financial by 62.8% during the second quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 223 shares in the last quarter. Addison Advisors LLC raised its stake in Sun Life Financial by 48.8% in the 2nd quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 231 shares during the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in Sun Life Financial by 7.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,357 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 246 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at $64.53 on Wednesday. The stock has a 50 day moving average of $64.08 and a 200 day moving average of $61.25. The firm has a market capitalization of $35.74 billion, a price-to-earnings ratio of 14.67 and a beta of 0.87. Sun Life Financial Inc. has a fifty-two week low of $52.44 and a fifty-two week high of $69.67.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.35 by $0.06. The business had revenue of $973.53 million for the quarter, compared to analyst estimates of $973.53 million. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.During the same quarter in the prior year, the company posted $1.68 EPS. Analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th will be paid a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend is Wednesday, February 25th. Sun Life Financial’s dividend payout ratio (DPR) is 60.91%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SLF shares. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sun Life Financial in a research note on Wednesday, January 21st. Royal Bank Of Canada reissued a “sector perform” rating on shares of Sun Life Financial in a research note on Friday, February 13th. Wall Street Zen upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $86.50.

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.