Sun Life Financial Inc. $SLF Shares Sold by Forsta AP Fonden

Forsta AP Fonden decreased its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 25.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 296,300 shares of the financial services provider’s stock after selling 99,500 shares during the quarter. Forsta AP Fonden owned 0.05% of Sun Life Financial worth $18,521,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SLF. Vanguard Group Inc. raised its holdings in shares of Sun Life Financial by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 25,884,084 shares of the financial services provider’s stock valued at $1,615,788,000 after purchasing an additional 534,772 shares in the last quarter. Norges Bank acquired a new position in shares of Sun Life Financial during the fourth quarter worth $398,037,000. Geode Capital Management LLC increased its holdings in Sun Life Financial by 6.7% in the fourth quarter. Geode Capital Management LLC now owns 5,529,609 shares of the financial services provider’s stock valued at $353,181,000 after buying an additional 347,041 shares during the last quarter. Legal & General Group Plc raised its stake in Sun Life Financial by 1.0% in the fourth quarter. Legal & General Group Plc now owns 3,896,312 shares of the financial services provider’s stock valued at $243,542,000 after buying an additional 36,698 shares in the last quarter. Finally, Scotia Capital Inc. lifted its holdings in Sun Life Financial by 6.3% during the 3rd quarter. Scotia Capital Inc. now owns 3,303,733 shares of the financial services provider’s stock worth $197,709,000 after buying an additional 196,675 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLF has been the subject of several analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Sun Life Financial in a research report on Thursday, May 7th. Wall Street Zen downgraded Sun Life Financial from a “hold” rating to a “sell” rating in a report on Saturday, May 23rd. BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a research note on Friday, May 8th. TD Securities reissued a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. Finally, Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a research report on Wednesday, April 29th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $86.50.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $71.92 on Friday. The stock has a market cap of $39.85 billion, a P/E ratio of 18.54 and a beta of 0.91. Sun Life Financial Inc. has a 1-year low of $56.22 and a 1-year high of $74.16. The firm has a fifty day moving average price of $68.46 and a 200 day moving average price of $64.55.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.03. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $925.99 million. During the same period in the prior year, the company earned $1.82 earnings per share. Sell-side analysts expect that Sun Life Financial Inc. will post 5.74 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Wednesday, May 27th will be paid a dividend of $0.96 per share. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $3.84 annualized dividend and a yield of 5.3%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s dividend payout ratio (DPR) is currently 72.94%.

Sun Life Financial 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.