JARISLOWSKY FRASER Ltd Has $11.11 Million Stock Position in Sun Life Financial Inc. (NYSE:SLF)

JARISLOWSKY FRASER Ltd reduced its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 15.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 187,148 shares of the financial services provider’s stock after selling 35,284 shares during the period. JARISLOWSKY FRASER Ltd’s holdings in Sun Life Financial were worth $11,106,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Human Investing LLC bought a new position in Sun Life Financial during the fourth quarter worth $26,000. Asset Planning Inc bought a new position in shares of Sun Life Financial during the 4th quarter worth about $40,000. BankPlus Trust Department acquired a new position in shares of Sun Life Financial during the fourth quarter valued at about $40,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Sun Life Financial during the fourth quarter worth about $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in Sun Life Financial during the third quarter valued at about $51,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLF has been the subject of a number of research reports. Scotiabank reiterated an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, May 1st. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research note on Thursday, February 13th. Finally, StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Sun Life Financial Trading Up 3.5 %

SLF stock opened at $62.01 on Friday. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $63.34. The business’s 50 day moving average is $56.94 and its 200-day moving average is $58.03. The firm has a market cap of $35.19 billion, a P/E ratio of 16.15, a P/E/G ratio of 1.52 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.05. The firm had revenue of $7.91 billion for the quarter, compared to analysts’ expectations of $6.44 billion. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. During the same period in the prior year, the business posted $1.40 earnings per share. Sell-side analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, May 28th will be given a dividend of $0.6332 per share. The ex-dividend date is Wednesday, May 28th. This represents a $2.53 dividend on an annualized basis and a dividend yield of 4.08%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio (DPR) is 60.16%.

Sun Life Financial Company Profile

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.