Wells Fargo & Company MN Reduces Stock Holdings in Sun Life Financial Inc (NYSE:SLF)

Wells Fargo & Company MN reduced its stake in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,787 shares of the financial services provider’s stock after selling 3,252 shares during the period. Wells Fargo & Company MN’s holdings in Sun Life Financial were worth $5,120,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Janney Montgomery Scott LLC grew its position in shares of Sun Life Financial by 48.9% during the first quarter. Janney Montgomery Scott LLC now owns 10,970 shares of the financial services provider’s stock worth $421,000 after acquiring an additional 3,601 shares during the last quarter. Commonwealth Equity Services LLC grew its position in shares of Sun Life Financial by 2.4% during the second quarter. Commonwealth Equity Services LLC now owns 50,514 shares of the financial services provider’s stock worth $2,089,000 after acquiring an additional 1,193 shares during the last quarter. Community Bank N.A. purchased a new position in shares of Sun Life Financial during the second quarter worth approximately $496,000. Todd Asset Management LLC grew its position in shares of Sun Life Financial by 2.4% during the first quarter. Todd Asset Management LLC now owns 393,739 shares of the financial services provider’s stock worth $15,124,000 after acquiring an additional 9,065 shares during the last quarter. Finally, H D Vest Advisory Services grew its position in shares of Sun Life Financial by 12.7% during the second quarter. H D Vest Advisory Services now owns 6,760 shares of the financial services provider’s stock worth $280,000 after acquiring an additional 763 shares during the last quarter. Institutional investors own 44.88% of the company’s stock.

NYSE:SLF traded down $0.13 during midday trading on Wednesday, reaching $44.05. The stock had a trading volume of 3,141 shares, compared to its average volume of 513,958. The firm has a fifty day simple moving average of $40.91 and a two-hundred day simple moving average of $40.29. Sun Life Financial Inc has a 12-month low of $31.49 and a 12-month high of $44.24. The stock has a market cap of $26.05 billion, a P/E ratio of 11.75 and a beta of 0.90.



Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.30. Sun Life Financial had a net margin of 6.83% and a return on equity of 13.37%. The firm had revenue of $7.59 billion for the quarter, compared to analyst estimates of $6.93 billion. During the same period last year, the firm posted $1.20 EPS. As a group, sell-side analysts expect that Sun Life Financial Inc will post 3.81 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, August 28th will be given a $0.401 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.64%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.38. The ex-dividend date is Tuesday, August 27th. Sun Life Financial’s dividend payout ratio (DPR) is 42.40%.

SLF has been the topic of a number of research reports. Barclays restated a “hold” rating on shares of Sun Life Financial in a research report on Monday, August 26th. Argus raised their target price on shares of Sun Life Financial from $42.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, July 1st. Zacks Investment Research upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research report on Thursday, July 4th. Evercore ISI restated an “outperform” rating on shares of Sun Life Financial in a research report on Monday, July 22nd. Finally, ValuEngine lowered shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $51.50.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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