Guardian Capital LP decreased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 3.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,173,316 shares of the financial services provider’s stock after selling 36,408 shares during the period. Guardian Capital LP owned approximately 0.19% of Sun Life Financial worth $41,897,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. TD Asset Management Inc. boosted its position in shares of Sun Life Financial by 1.7% during the 2nd quarter. TD Asset Management Inc. now owns 20,568,078 shares of the financial services provider’s stock valued at $734,224,000 after purchasing an additional 351,938 shares in the last quarter. Vanguard Group Inc. lifted its stake in Sun Life Financial by 4.6% during the second quarter. Vanguard Group Inc. now owns 13,668,290 shares of the financial services provider’s stock valued at $488,642,000 after buying an additional 595,894 shares in the last quarter. Beutel Goodman & Co Ltd. lifted its stake in Sun Life Financial by 50.7% during the second quarter. Beutel Goodman & Co Ltd. now owns 9,170,839 shares of the financial services provider’s stock valued at $327,474,000 after buying an additional 3,083,485 shares in the last quarter. Letko Brosseau & Associates Inc. lifted its stake in Sun Life Financial by 0.3% during the second quarter. Letko Brosseau & Associates Inc. now owns 7,921,162 shares of the financial services provider’s stock valued at $282,764,000 after buying an additional 23,720 shares in the last quarter. Finally, Bank of Nova Scotia lifted its stake in Sun Life Financial by 1.2% during the first quarter. Bank of Nova Scotia now owns 7,024,399 shares of the financial services provider’s stock valued at $256,508,000 after buying an additional 81,565 shares in the last quarter. Institutional investors own 40.90% of the company’s stock.

Sun Life Financial Inc. (NYSE SLF) traded down 0.18% during mid-day trading on Friday, hitting $39.82. 499,602 shares of the stock were exchanged. The firm has a 50-day moving average price of $38.43 and a 200-day moving average price of $36.17. Sun Life Financial Inc. has a 12-month low of $31.42 and a 12-month high of $40.57. The stock has a market capitalization of $24.44 billion, a P/E ratio of 11.52 and a beta of 0.86.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, August 9th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.09. Sun Life Financial had a return on equity of 13.29% and a net margin of 12.48%. The business had revenue of $8.12 billion during the quarter, compared to analyst estimates of $7.36 billion. During the same period in the previous year, the firm earned $0.90 EPS. Sun Life Financial’s quarterly revenue was down 14.8% compared to the same quarter last year. Equities analysts predict that Sun Life Financial Inc. will post $3.31 earnings per share for the current fiscal year.

Sun Life Financial declared that its Board of Directors has initiated a stock buyback plan on Wednesday, August 9th that allows the company to repurchase 11,500,000 shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Wednesday, August 30th were given a $0.3439 dividend. The ex-dividend date was Monday, August 28th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.32. This represents a $1.38 annualized dividend and a dividend yield of 3.45%. Sun Life Financial’s payout ratio is currently 43.85%.

A number of analysts have commented on the stock. ValuEngine lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Sun Life Financial from a “sell” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, July 12th. BidaskClub raised shares of Sun Life Financial from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Bank of America Corporation raised shares of Sun Life Financial from an “underperform” rating to a “hold” rating in a research note on Monday, July 10th. Finally, TD Securities upped their price objective on shares of Sun Life Financial from $50.00 to $51.00 and gave the company a “hold” rating in a research note on Thursday, August 10th. Nine research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $45.80.

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Sun Life Financial Company Profile

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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