Fiera Capital Corp Decreases Stock Position in Sun Life Financial Inc. $SLF

Fiera Capital Corp cut its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 10.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 677,197 shares of the financial services provider’s stock after selling 76,671 shares during the period. Fiera Capital Corp’s holdings in Sun Life Financial were worth $42,287,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in Sun Life Financial in the 4th quarter valued at about $244,000. AQR Capital Management LLC boosted its position in Sun Life Financial by 113.8% during the first quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 4,270 shares during the period. Sivia Capital Partners LLC bought a new position in Sun Life Financial during the second quarter worth about $204,000. Prudential Financial Inc. purchased a new position in shares of Sun Life Financial in the second quarter worth about $232,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Sun Life Financial by 66.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 692 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at $73.57 on Tuesday. Sun Life Financial Inc. has a 52-week low of $56.22 and a 52-week high of $74.44. The company has a fifty day moving average of $69.66 and a 200-day moving average of $65.18. The stock has a market capitalization of $40.76 billion, a price-to-earnings ratio of 18.96 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, topping 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 company had revenue of $6.41 billion for the quarter, compared to analysts’ expectations of $925.99 million. During the same quarter last year, the company earned $1.82 EPS. On average, equities research analysts forecast that Sun Life Financial Inc. will post 5.72 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 Tuesday, June 30th. Stockholders of record on Wednesday, May 27th will be issued a $0.96 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Wednesday, May 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 72.94%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. Wall Street Zen cut shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Saturday, May 23rd. TD Cowen reiterated a “buy” rating on shares of Sun Life Financial in a research note on Thursday, May 7th. TD Securities reissued a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. Royal Bank Of Canada restated a “sector perform” rating on shares of Sun Life Financial in a research report on Friday, February 13th. Finally, Evercore reaffirmed an “outperform” rating on shares of Sun Life Financial in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sun Life Financial currently has an average rating of “Moderate Buy” and a consensus target price of $86.50.

About Sun Life Financial

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.