Quilter Plc Sells 2,305 Shares of Sun Life Financial Inc. $SLF

Quilter Plc lowered its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 25.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,886 shares of the financial services provider’s stock after selling 2,305 shares during the period. Quilter Plc’s holdings in Sun Life Financial were worth $458,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. grew its position in Sun Life Financial by 3.4% in the 1st quarter. Benjamin Edwards Inc. now owns 5,052 shares of the financial services provider’s stock valued at $289,000 after acquiring an additional 167 shares during the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of Sun Life Financial by 4.4% during the 1st quarter. HighPoint Advisor Group LLC now owns 4,330 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 181 shares during the last quarter. Public Sector Pension Investment Board grew its stake in Sun Life Financial by 0.4% in the first quarter. Public Sector Pension Investment Board now owns 55,447 shares of the financial services provider’s stock valued at $3,173,000 after purchasing an additional 200 shares during the last quarter. Westside Investment Management Inc. lifted its position in shares of Sun Life Financial by 62.8% during the second quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock valued at $38,000 after buying an additional 223 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Sun Life Financial by 2.2% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,444 shares of the financial services provider’s stock valued at $683,000 after buying an additional 224 shares in the last quarter. 52.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on SLF shares. National Bank Financial downgraded shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. Argus upgraded Sun Life Financial to a “strong-buy” rating in a research note on Thursday, September 4th. Evercore ISI restated an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, October 8th. Finally, UBS Group began coverage on shares of Sun Life Financial in a research note on Thursday, October 16th. They set a “neutral” rating for the company. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Stock Performance

Shares of SLF opened at $58.70 on Thursday. Sun Life Financial Inc. has a 1 year low of $52.44 and a 1 year high of $66.81. The stock has a market capitalization of $32.78 billion, a PE ratio of 14.53, a PEG ratio of 1.67 and a beta of 0.90. The stock has a 50-day simple moving average of $60.28 and a 200-day simple moving average of $61.33.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, November 5th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The company had revenue of $944.53 million during the quarter, compared to analysts’ expectations of $944.53 million. During the same quarter in the previous year, the business posted $2.33 EPS. Analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Wednesday, November 26th will be paid a $0.92 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.64. This represents a $3.68 dividend on an annualized basis and a yield of 6.3%. The ex-dividend date is Wednesday, November 26th. Sun Life Financial’s payout ratio is 69.41%.

Sun Life Financial 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.