Addenda Capital Inc. Has $7.07 Million Stock Holdings in Sun Life Financial Inc. $SLF

Addenda Capital Inc. cut its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 113,230 shares of the financial services provider’s stock after selling 11,655 shares during the quarter. Addenda Capital Inc.’s holdings in Sun Life Financial were worth $7,066,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLF. Brighton Jones LLC acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at $244,000. AQR Capital Management LLC increased its stake in shares of Sun Life Financial by 113.8% in the first quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock valued at $454,000 after buying an additional 4,270 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Sun Life Financial in the second quarter valued at $204,000. Prudential Financial Inc. bought a new position in Sun Life Financial in the second quarter valued at about $232,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Sun Life Financial by 66.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider’s stock valued at $115,000 after acquiring an additional 692 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

NYSE:SLF opened at $65.94 on Thursday. Sun Life Financial Inc. has a fifty-two week low of $52.62 and a fifty-two week high of $69.67. The stock has a market capitalization of $36.53 billion, a PE ratio of 14.99 and a beta of 0.87. The business’s 50-day simple moving average is $64.44 and its 200-day simple moving average is $62.10.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.06. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.The business had revenue of $973.53 million for the quarter, compared to analysts’ expectations of $973.53 million. During the same quarter in the previous year, the business posted $1.68 EPS. On average, research analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, February 25th were issued a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Wednesday, February 25th. Sun Life Financial’s payout ratio is 61.36%.

Analyst Ratings Changes

Several equities analysts recently issued reports on SLF shares. TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a report on Thursday, February 12th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, February 5th. BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a report on Friday, February 13th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Sun Life Financial in a report on Thursday, January 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $86.50.

About Sun Life Financial

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.