Sei Investments Co. Cuts Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Sei Investments Co. trimmed its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,495 shares of the financial services provider’s stock after selling 1,112 shares during the period. Sei Investments Co.’s holdings in Sun Life Financial were worth $1,056,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Waratah Capital Advisors Ltd. boosted its position in Sun Life Financial by 298.3% during the first quarter. Waratah Capital Advisors Ltd. now owns 199,779 shares of the financial services provider’s stock valued at $10,095,000 after buying an additional 149,617 shares during the period. Dynamic Technology Lab Private Ltd boosted its position in Sun Life Financial by 111.2% during the first quarter. Dynamic Technology Lab Private Ltd now owns 23,787 shares of the financial services provider’s stock valued at $1,202,000 after buying an additional 12,526 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in Sun Life Financial by 5.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 12,289 shares of the financial services provider’s stock valued at $621,000 after buying an additional 651 shares during the period. Swiss National Bank boosted its position in Sun Life Financial by 1.2% during the first quarter. Swiss National Bank now owns 2,371,500 shares of the financial services provider’s stock valued at $119,796,000 after buying an additional 28,700 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. boosted its holdings in shares of Sun Life Financial by 32.4% during the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 14,422 shares of the financial services provider’s stock worth $728,000 after purchasing an additional 3,530 shares during the period. Institutional investors and hedge funds own 45.95% of the company’s stock.

SLF has been the subject of a number of analyst reports. Royal Bank of Canada increased their target price on shares of Sun Life Financial from $69.00 to $71.00 and gave the stock a “sector perform” rating in a report on Friday, August 6th. Barclays reiterated a “sell” rating and set a C$64.00 target price on shares of Sun Life Financial in a report on Thursday, September 2nd. Canaccord Genuity reiterated a “buy” rating and set a C$50.96 target price (down from C$73.00) on shares of Sun Life Financial in a report on Monday, July 26th. Finally, TD Securities dropped their target price on shares of Sun Life Financial from C$75.00 to C$73.00 and set a “buy” rating for the company in a report on Thursday, August 5th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $66.90.

SLF stock opened at $49.56 on Tuesday. Sun Life Financial Inc. has a 1 year low of $38.53 and a 1 year high of $55.07. The company has a market cap of $29.03 billion, a P/E ratio of 11.19, a PEG ratio of 1.22 and a beta of 1.04. The firm has a 50-day moving average of $51.61 and a 200 day moving average of $52.05.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, August 4th. The financial services provider reported $1.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.06. Sun Life Financial had a net margin of 9.51% and a return on equity of 14.05%. The business had revenue of $10.31 billion during the quarter. As a group, equities research analysts anticipate that Sun Life Financial Inc. will post 4.7 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 29th. Shareholders of record on Wednesday, August 25th will be paid a dividend of $0.4386 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend is Tuesday, August 24th. Sun Life Financial’s dividend payout ratio is 42.93%.

About Sun Life Financial

Sun Life Financial, Inc operates as a holding company. The firm engages in the provision of financial services. It operates through the following segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate. The Sun Life Financial Canada segment offers individual insurance and wealth, and group benefits and retirement services.

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

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