Legal & General Group Plc reduced its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 25.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,661,464 shares of the financial services provider's stock after selling 1,265,439 shares during the quarter. Legal & General Group Plc owned about 0.58% of Sun Life Financial worth $217,290,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Norges Bank purchased a new stake in shares of Sun Life Financial in the fourth quarter worth about $382,176,000. Intact Investment Management Inc. lifted its stake in Sun Life Financial by 295.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider's stock worth $113,453,000 after purchasing an additional 1,427,815 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Sun Life Financial by 2,071.4% in the 4th quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock valued at $80,160,000 after purchasing an additional 1,288,545 shares during the period. Geode Capital Management LLC grew 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 valued at $210,080,000 after purchasing an additional 812,689 shares in the last quarter. Finally, CIBC Asset Management Inc increased its holdings in shares of Sun Life Financial by 10.8% in the fourth quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider's stock worth $427,712,000 after purchasing an additional 703,391 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.
Sun Life Financial Price Performance
NYSE:SLF traded up $0.13 during trading hours on Tuesday, hitting $56.79. The company had a trading volume of 72,520 shares, compared to its average volume of 680,273. The stock has a 50-day moving average price of $56.04 and a 200 day moving average price of $57.87. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85. The company has a market capitalization of $32.42 billion, a PE ratio of 14.79, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. Analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.
Sun Life Financial Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th were given a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 4.14%. The ex-dividend date was Wednesday, February 26th. Sun Life Financial's payout ratio is 60.16%.
Analyst Upgrades and Downgrades
Several analysts have weighed in on SLF shares. National Bank Financial raised Sun Life Financial from a "sector perform" rating to an "outperform" rating in a report on Wednesday, January 15th. StockNews.com lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Sun Life Financial presently has a consensus rating of "Moderate Buy".
Read Our Latest Analysis on Sun Life Financial
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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