Sun Life Financial Inc. $SLF Shares Sold by First Trust Advisors LP

First Trust Advisors LP trimmed its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 17.5% in the 2nd quarter, Holdings Channel reports. The firm owned 660,887 shares of the financial services provider’s stock after selling 140,621 shares during the period. First Trust Advisors LP’s holdings in Sun Life Financial were worth $43,925,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of Sun Life Financial by 5.9% in the first quarter. Northern Trust Corp now owns 522,752 shares of the financial services provider’s stock valued at $29,933,000 after buying an additional 29,222 shares during the last quarter. Gulf International Bank UK Ltd raised its holdings in Sun Life Financial by 2,729.4% in the 1st quarter. Gulf International Bank UK Ltd now owns 33,557 shares of the financial services provider’s stock valued at $1,921,000 after acquiring an additional 32,371 shares during the last quarter. Cardinal Capital Management Inc. lifted its stake in Sun Life Financial by 0.8% in the 2nd quarter. Cardinal Capital Management Inc. now owns 1,138,144 shares of the financial services provider’s stock worth $75,705,000 after purchasing an additional 9,005 shares in the last quarter. Federation des caisses Desjardins du Quebec boosted its holdings in shares of Sun Life Financial by 5.2% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 6,748,255 shares of the financial services provider’s stock worth $385,740,000 after purchasing an additional 335,054 shares during the last quarter. Finally, HAP Trading LLC acquired a new position in shares of Sun Life Financial during the 1st quarter worth approximately $1,317,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Trading Down 0.2%

Shares of NYSE:SLF opened at $58.45 on Tuesday. The company has a market capitalization of $32.48 billion, a price-to-earnings ratio of 15.54 and a beta of 0.87. Sun Life Financial Inc. has a 12-month low of $52.44 and a 12-month high of $66.81. The business has a 50-day moving average price of $60.07 and a 200 day moving average price of $61.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.05. Sun Life Financial had a net margin of 7.53% and a return on equity of 16.93%. The company had revenue of $944.53 million during the quarter, compared to analyst estimates of $944.53 million. During the same quarter last year, the firm posted $2.33 earnings per share. As a group, equities research analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Wednesday, November 26th will be given a dividend of $0.92 per share. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date of this dividend is Wednesday, November 26th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.64. Sun Life Financial’s dividend payout ratio is 69.68%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. National Bankshares reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. Morgan Stanley set a $89.00 target price on Sun Life Financial in a research note on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. TD Securities upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, October 7th. Finally, Argus raised shares of Sun Life Financial to a “strong-buy” rating in a research note on Thursday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $86.50.

About Sun Life Financial

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.