Arrowstreet Capital Limited Partnership trimmed its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 46.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 801,370 shares of the financial services provider's stock after selling 693,290 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.13% of Sun Life Financial worth $47,523,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. grew its position in Sun Life Financial by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider's stock worth $164,876,000 after purchasing an additional 34,072 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Sun Life Financial by 34.0% during the fourth quarter. Principal Financial Group Inc. now owns 23,633 shares of the financial services provider's stock worth $1,403,000 after buying an additional 6,000 shares during the last quarter. CIBC Asset Management Inc increased its position in 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 acquiring an additional 703,391 shares during the period. Sanctuary Advisors LLC purchased a new stake in Sun Life Financial during the 3rd quarter valued at approximately $878,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Sun Life Financial by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,596,439 shares of the financial services provider's stock worth $94,743,000 after acquiring an additional 15,908 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
SLF has been the topic of a number of recent research reports. Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, January 15th. Finally, StockNews.com downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy".
Check Out Our Latest Report on Sun Life Financial
Sun Life Financial Price Performance
NYSE SLF traded down $0.47 on Thursday, hitting $58.31. 644,608 shares of the company's stock were exchanged, compared to its average volume of 683,952. The firm has a market cap of $33.28 billion, a price-to-earnings ratio of 15.18, a P/E/G ratio of 1.52 and a beta of 1.04. The firm's 50-day moving average price is $56.65 and its two-hundred day moving average price is $58.01. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85.
Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. On average, research analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share 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. Stockholders of record on Wednesday, February 26th were issued a $0.5876 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.03%. Sun Life Financial's dividend payout ratio is presently 60.16%.
Sun Life Financial Profile
(
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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