Fmr LLC Cuts Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

FMR LLC decreased its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,168,977 shares of the financial services provider's stock after selling 20,962 shares during the period. FMR LLC owned about 0.82% of Sun Life Financial worth $306,913,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SLF. Norges Bank bought a new stake in Sun Life Financial in the 4th quarter valued at $382,176,000. Intact Investment Management Inc. lifted its position in shares of Sun Life Financial by 295.5% during the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider's stock valued at $113,453,000 after acquiring an additional 1,427,815 shares during the period. Wellington Management Group LLP lifted its position in Sun Life Financial by 2,071.4% during the fourth quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock worth $80,160,000 after purchasing an additional 1,288,545 shares during the period. Geode Capital Management LLC boosted its position in shares of Sun Life Financial by 30.6% during the 4th quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider's stock worth $210,080,000 after acquiring an additional 812,689 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Sun Life Financial by 10.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider's stock valued at $427,712,000 after purchasing an additional 703,391 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. StockNews.com cut shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. National Bank Financial upgraded shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, January 15th. Finally, Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sun Life Financial presently has a consensus rating of "Moderate Buy".

Sun Life Financial Trading Down 0.3 %

NYSE:SLF traded down $0.16 during mid-day trading on Tuesday, hitting $56.50. 158,864 shares of the company's stock were exchanged, compared to its average volume of 680,625. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85. The firm has a market capitalization of $32.25 billion, a P/E ratio of 14.72, a PEG ratio of 1.52 and a beta of 0.87. The company has a 50 day simple moving average of $56.04 and a 200-day simple moving average of $57.87.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. As a group, analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th were paid a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date was Wednesday, February 26th. Sun Life Financial's dividend payout ratio is currently 60.16%.

Sun Life Financial Profile

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.