AustralianSuper Pty Ltd Sells 47,444 Shares of Sun Life Financial Inc. $SLF

AustralianSuper Pty Ltd trimmed its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 30.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,561 shares of the financial services provider’s stock after selling 47,444 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Sun Life Financial were worth $6,397,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SLF. Farther Finance Advisors LLC increased its holdings in Sun Life Financial by 16.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider’s stock valued at $78,000 after buying an additional 186 shares during the period. HB Wealth Management LLC boosted its position in shares of Sun Life Financial by 5.8% during the 3rd quarter. HB Wealth Management LLC now owns 3,777 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 208 shares in the last quarter. Westside Investment Management Inc. increased its stake in Sun Life Financial by 62.8% in the second quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 223 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Sun Life Financial by 2.2% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 10,444 shares of the financial services provider’s stock worth $683,000 after purchasing an additional 224 shares in the last quarter. Finally, Addison Advisors LLC raised its position in Sun Life Financial by 48.8% in the second quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock worth $47,000 after purchasing an additional 231 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $63.78 on Friday. The business’s fifty day moving average is $61.32 and its two-hundred day moving average is $60.47. The firm has a market cap of $35.32 billion, a P/E ratio of 16.96 and a beta of 0.87. Sun Life Financial Inc. has a 52 week low of $52.44 and a 52 week high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.05. The business had revenue of $944.53 million during the quarter, compared to analysts’ expectations of $944.53 million. Sun Life Financial had a return on equity of 16.93% and a net margin of 7.53%.During the same period in the previous year, the business posted $2.33 earnings per share. On average, equities research analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, November 26th were paid a $0.92 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.64. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.8%. The ex-dividend date of this dividend was Wednesday, November 26th. Sun Life Financial’s payout ratio is presently 69.68%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. UBS Group initiated coverage on Sun Life Financial in a report on Thursday, October 16th. They set a “neutral” rating on the stock. Evercore ISI reaffirmed an “outperform” rating on shares of Sun Life Financial in a research note on Thursday, October 9th. Morgan Stanley set a $89.00 price objective on Sun Life Financial in a research note on Tuesday, October 7th. CIBC reissued a “neutral” rating on shares of Sun Life Financial in a report on Thursday, January 8th. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Company Profile

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.