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

Shell Asset Management Co. lessened its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 36.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor 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 filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Private Trust Co. NA increased its position in shares of Sun Life Financial by 130.6% during the 2nd quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 243 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Sun Life Financial by 184.1% in the third quarter. Smartleaf Asset Management LLC now owns 588 shares of the financial services provider’s stock valued at $35,000 after buying an additional 381 shares in the last quarter. Westside Investment Management Inc. increased its holdings in 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 worth $38,000 after buying an additional 223 shares during the last quarter. Tobam bought a new stake in Sun Life Financial during the second quarter worth $44,000. Finally, Addison Advisors LLC lifted its stake in Sun Life Financial by 48.8% in the second quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 231 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLF has been the topic of a number of research analyst reports. National Bank Financial reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, February 5th. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a report on Thursday, January 8th. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a report on Thursday. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Sun Life Financial in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $86.50.

Sun Life Financial Stock Up 0.3%

Shares of Sun Life Financial stock opened at $68.96 on Monday. The stock 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 Inc. has a twelve month low of $52.44 and a twelve month high of $69.67. The company has a 50-day simple moving average of $62.82 and a two-hundred day simple moving average of $60.70.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its 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. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.76%. The company had revenue of $973.53 million for the quarter, compared to analysts’ expectations of $973.53 million. During the same period last year, the firm earned $1.68 earnings per share. On average, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Dividend Announcement

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

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.