Hillsdale Investment Management Inc. Reduces Stake in Sun Life Financial Inc. $SLF

Hillsdale Investment Management Inc. cut its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 99.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,332 shares of the financial services provider’s stock after selling 417,806 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Sun Life Financial were worth $200,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in shares of Sun Life Financial by 16.7% in the third quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 186 shares during the period. HB Wealth Management LLC boosted its holdings in Sun Life Financial by 5.8% in the third quarter. HB Wealth Management LLC now owns 3,777 shares of the financial services provider’s stock valued at $227,000 after purchasing an additional 208 shares during the last quarter. Westside Investment Management Inc. grew its position in Sun Life Financial by 62.8% during the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 223 shares during the period. Addison Advisors LLC raised its stake in shares of Sun Life Financial by 48.8% during the 2nd quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $47,000 after buying an additional 231 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Sun Life Financial by 2.2% in the 2nd quarter. Corient Private Wealth LLC now owns 15,745 shares of the financial services provider’s stock valued at $1,046,000 after buying an additional 338 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $64.93 on Wednesday. The business’s 50 day moving average price is $63.74 and its 200-day moving average price is $60.99. Sun Life Financial Inc. has a 1 year low of $52.44 and a 1 year high of $69.67. The firm has a market capitalization of $35.96 billion, a price-to-earnings ratio of 14.76 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.35 by $0.06. The company had revenue of $973.53 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the firm earned $1.68 EPS. On average, sell-side analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th will be given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 5.7%. The ex-dividend date is Wednesday, February 25th. Sun Life Financial’s dividend payout ratio is 59.55%.

Analyst Ratings Changes

SLF has been the topic of several analyst reports. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sun Life Financial in a report on Friday, February 13th. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, February 5th. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a report on Thursday, February 12th. Evercore reissued an “outperform” rating on shares of Sun Life Financial in a report on Thursday, February 19th. Finally, Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average 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.