Sun Life Financial Inc. $SLF Shares Sold by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. trimmed its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 848,740 shares of the financial services provider’s stock after selling 83,139 shares during the quarter. Sun Life Financial comprises 1.5% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 21st biggest holding. Mufg Securities Canada LTD. owned 0.15% of Sun Life Financial worth $52,994,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC lifted its position in Sun Life Financial by 68.4% during the 4th quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 167 shares during the period. Brown Brothers Harriman & Co. acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $30,000. Sittner & Nelson LLC acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC lifted its position in Sun Life Financial by 184.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 588 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 381 shares during the period. Finally, Manchester Capital Management LLC acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $49,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

SLF opened at $76.53 on Monday. The business has a 50 day simple moving average of $70.71 and a 200-day simple moving average of $65.64. The stock has a market capitalization of $42.40 billion, a P/E ratio of 19.72 and a beta of 0.90. Sun Life Financial Inc. has a 12 month low of $56.22 and a 12 month high of $76.84.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, beating the consensus estimate of $1.35 by $0.03. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $925.99 million. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.During the same period last year, the firm earned $1.82 EPS. Research analysts anticipate that Sun Life Financial Inc. will post 5.76 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 27th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $3.84 annualized dividend and a dividend yield of 5.0%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s payout ratio is 72.94%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on SLF shares. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Wednesday, April 29th. TD Cowen reaffirmed a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th. Evercore reaffirmed an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, February 19th. Finally, Argus set a $81.00 price target on Sun Life Financial in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $84.67.

About Sun Life Financial

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.