Shell Asset Management Co. Sells 13,187 Shares of Sun Life Financial Inc. $SLF

Shell Asset Management Co. lessened its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 36.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,485 shares of the financial services provider’s stock after selling 13,187 shares during the period. Shell Asset Management Co.’s holdings in Sun Life Financial were worth $1,411,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SLF. Bank of Nova Scotia raised its position in shares of Sun Life Financial by 6.5% during the 2nd quarter. Bank of Nova Scotia now owns 6,157,205 shares of the financial services provider’s stock valued at $409,576,000 after acquiring an additional 377,204 shares during the last quarter. Ontario Teachers Pension Plan Board grew its stake in shares of Sun Life Financial by 41.1% during the second quarter. Ontario Teachers Pension Plan Board now owns 61,113 shares of the financial services provider’s stock worth $4,069,000 after purchasing an additional 17,799 shares during the period. Intact Investment Management Inc. increased its holdings in Sun Life Financial by 226.8% in the third quarter. Intact Investment Management Inc. now owns 1,270,947 shares of the financial services provider’s stock valued at $76,327,000 after purchasing an additional 882,070 shares during the last quarter. Bank of Nova Scotia Trust Co. lifted its stake in Sun Life Financial by 2.1% in the second quarter. Bank of Nova Scotia Trust Co. now owns 310,147 shares of the financial services provider’s stock valued at $20,609,000 after buying an additional 6,424 shares during the period. Finally, Nicola Wealth Management LTD. boosted its holdings in Sun Life Financial by 28.7% during the third quarter. Nicola Wealth Management LTD. now owns 356,800 shares of the financial services provider’s stock worth $21,427,000 after buying an additional 79,500 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Up 0.3%

Shares of SLF stock opened at $68.96 on Monday. Sun Life Financial Inc. has a 12-month low of $52.44 and a 12-month high of $69.67. The firm has a fifty day moving average of $62.82 and a 200-day moving average of $60.70. The company has a market capitalization of $38.20 billion, a price-to-earnings ratio of 15.67 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.35 by $0.06. The business had revenue of $973.53 million for the quarter, compared to analysts’ expectations of $973.53 million. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.76%. During the same period in the previous year, the firm posted $1.68 EPS. On average, equities analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th will be issued a dividend of $0.92 per share. The ex-dividend date is Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.3%. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.55%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Royal Bank Of Canada reiterated a “sector perform” rating on shares of Sun Life Financial in a research report on Friday. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, February 5th. BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a research report on Friday. Barclays restated an “underweight” rating on shares of Sun Life Financial in a research report on Thursday, January 8th. Finally, National Bank Financial reiterated a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target 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.