Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp lessened its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 20.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,257,900 shares of the financial services provider's stock after selling 317,875 shares during the quarter. Alberta Investment Management Corp owned approximately 0.20% of Sun Life Financial worth $74,650,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Sun Life Financial by 7.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider's stock valued at $537,288,000 after buying an additional 654,404 shares during the period. CIBC Asset Management Inc lifted its holdings in 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 acquiring an additional 703,391 shares during the last quarter. National Bank of Canada FI boosted its stake in Sun Life Financial by 28.2% in the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider's stock valued at $338,621,000 after acquiring an additional 1,284,556 shares during the period. FMR LLC boosted its stake in Sun Life Financial by 5.2% in the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider's stock valued at $301,047,000 after acquiring an additional 257,178 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in shares of Sun Life Financial by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider's stock valued at $164,876,000 after purchasing an additional 34,072 shares during the last quarter. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Price Performance

SLF stock traded down $0.57 on Friday, reaching $54.61. The company's stock had a trading volume of 1,896,033 shares, compared to its average volume of 613,494. The firm has a fifty day moving average of $58.34 and a two-hundred day moving average of $57.30. The company has a market capitalization of $34.29 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 1.54 and a beta of 1.03. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping 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, equities analysts expect 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 will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be paid a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.30%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial's dividend payout ratio is currently 67.19%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. National Bank Financial raised Sun Life Financial from a "sector perform" rating to an "outperform" rating in a report on Wednesday, January 15th. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Finally, StockNews.com lowered 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, two have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Sun Life Financial presently has an average rating of "Moderate Buy".

Sun Life Financial Company 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.