QV Investors Inc. Sells 204,248 Shares of Sun Life Financial Inc. $SLF

QV Investors Inc. cut its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 20.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 798,515 shares of the financial services provider’s stock after selling 204,248 shares during the period. Sun Life Financial accounts for 4.1% of QV Investors Inc.’s investment portfolio, making the stock its 7th largest holding. QV Investors Inc.’s holdings in Sun Life Financial were worth $49,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLF. Farther Finance Advisors LLC boosted its position in shares of Sun Life Financial by 16.7% during the 3rd 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 in the last quarter. HB Wealth Management LLC grew its holdings in shares of Sun Life Financial by 5.8% during the third quarter. HB Wealth Management LLC now owns 3,777 shares of the financial services provider’s stock worth $227,000 after purchasing an additional 208 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Sun Life Financial by 1.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 12,916 shares of the financial services provider’s stock worth $824,000 after purchasing an additional 222 shares during the last quarter. Westside Investment Management Inc. increased its position in shares of Sun Life Financial by 38.6% during the third quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 223 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its holdings in shares of Sun Life Financial by 7.9% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 3,357 shares of the financial services provider’s stock valued at $202,000 after purchasing an additional 246 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of SLF opened at $63.56 on Friday. Sun Life Financial Inc. has a fifty-two week low of $52.44 and a fifty-two week high of $69.67. The firm has a 50-day simple moving average of $64.35 and a 200-day simple moving average of $62.00. The company has a market capitalization of $35.20 billion, a price-to-earnings ratio of 14.44 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.06. The firm had revenue of $973.53 million for the quarter, compared to analysts’ expectations of $973.53 million. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.During the same quarter in the previous year, the firm posted $1.68 EPS. Equities research analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, February 25th were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.8%. Sun Life Financial’s payout ratio is presently 61.36%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLF. Wall Street Zen cut Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Sunday, March 8th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a research note on Wednesday, January 21st. Scotiabank reissued a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, February 5th. TD Securities restated a “buy” rating on shares of Sun Life Financial in a research report on Thursday, February 12th. Finally, BMO Capital Markets reaffirmed an “outperform” 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 issued a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus 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.