Sun Life Financial Inc. $SLF Shares Sold by Hillsdale Investment Management Inc.

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

Several other hedge funds have also recently added to or reduced their stakes in SLF. Bank of Nova Scotia boosted its stake in 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 worth $409,576,000 after purchasing an additional 377,204 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in shares of Sun Life Financial by 41.1% in 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 buying an additional 17,799 shares in the last quarter. Intact Investment Management Inc. boosted its position in Sun Life Financial by 226.8% during the third quarter. Intact Investment Management Inc. now owns 1,270,947 shares of the financial services provider’s stock worth $76,327,000 after acquiring an additional 882,070 shares during the last quarter. Bank of Nova Scotia Trust Co. grew its stake in Sun Life Financial by 2.1% during the 2nd 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 acquiring an additional 6,424 shares in the last quarter. Finally, Nicola Wealth Management LTD. raised its holdings in Sun Life Financial by 28.7% in the 3rd quarter. Nicola Wealth Management LTD. now owns 356,800 shares of the financial services provider’s stock valued at $21,427,000 after acquiring an additional 79,500 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Trading Up 0.6%

Shares of NYSE:SLF opened at $64.93 on Wednesday. The company 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 Inc. has a 12-month low of $52.44 and a 12-month high of $69.67. The business has a 50-day moving average price of $63.74 and a 200 day moving average price of $60.99.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share 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 last year, the firm posted $1.68 earnings per share. As a group, equities research analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th will be given a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a yield of 5.7%. Sun Life Financial’s payout ratio is presently 59.55%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a report on Friday, February 13th. Barclays restated an “underweight” rating on shares of Sun Life Financial in a report on Thursday, January 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, January 21st. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a research report on Thursday, January 8th. Finally, Royal Bank Of Canada reiterated a “sector perform” rating on shares of Sun Life Financial in a report on Friday, February 13th. 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 given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $86.50.

Sun Life Financial Company Profile

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.