Northwest & Ethical Investments L.P. Has $44.56 Million Position in Sun Life Financial Inc. $SLF

Northwest & Ethical Investments L.P. lessened its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 670,116 shares of the financial services provider’s stock after selling 65,650 shares during the period. Sun Life Financial makes up approximately 1.1% of Northwest & Ethical Investments L.P.’s holdings, making the stock its 12th largest position. Northwest & Ethical Investments L.P.’s holdings in Sun Life Financial were worth $44,556,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in Sun Life Financial in the fourth quarter valued at approximately $244,000. Cetera Investment Advisers grew its stake in shares of Sun Life Financial by 21.6% during the first quarter. Cetera Investment Advisers now owns 62,856 shares of the financial services provider’s stock worth $3,599,000 after purchasing an additional 11,161 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in Sun Life Financial by 1.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 80,025 shares of the financial services provider’s stock valued at $4,582,000 after purchasing an additional 1,308 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Sun Life Financial by 10.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 444,409 shares of the financial services provider’s stock valued at $25,431,000 after buying an additional 42,558 shares during the period. Finally, Fiera Capital Corp boosted its holdings in Sun Life Financial by 5.0% during the first quarter. Fiera Capital Corp now owns 855,352 shares of the financial services provider’s stock worth $49,003,000 after buying an additional 40,580 shares during the last quarter. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Trading Up 1.2%

Shares of NYSE SLF opened at $59.82 on Wednesday. Sun Life Financial Inc. has a 1-year low of $52.44 and a 1-year high of $66.81. The firm’s 50-day moving average price is $60.27 and its 200-day moving average price is $61.30. The firm has a market capitalization of $33.32 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.67 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly 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. The company had revenue of $944.53 million during the quarter, compared to the consensus estimate of $944.53 million. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same quarter in the prior year, the company earned $2.33 EPS. Equities research 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 Wednesday, December 31st. Stockholders of record on Wednesday, November 26th will be paid a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 6.2%. The ex-dividend date is Wednesday, November 26th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.64. Sun Life Financial’s dividend payout ratio (DPR) is 69.41%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. National Bank Financial lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Barclays restated an “underweight” rating on shares of Sun Life Financial in a report on Wednesday, October 8th. Evercore ISI reiterated an “outperform” rating on shares of Sun Life Financial in a report on Thursday, October 9th. UBS Group initiated coverage on shares of Sun Life Financial in a research note on Thursday, October 16th. They set a “neutral” rating for the company. Finally, Cibc Captl Mkts lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target 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.