Grantham Mayo Van Otterloo & Co. LLC lessened its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 53.4% during the first quarter, Holdings Channel.com reports. The firm owned 265,000 shares of the financial services provider’s stock after selling 303,800 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Sun Life Financial were worth $13,391,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Waratah Capital Advisors Ltd. lifted its holdings in shares of Sun Life Financial by 298.3% during the first quarter. Waratah Capital Advisors Ltd. now owns 199,779 shares of the financial services provider’s stock worth $10,095,000 after purchasing an additional 149,617 shares during the period. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of Sun Life Financial by 11.8% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 851,630 shares of the financial services provider’s stock worth $37,863,000 after purchasing an additional 89,790 shares during the period. Citigroup Inc. lifted its holdings in Sun Life Financial by 51.8% in the fourth quarter. Citigroup Inc. now owns 284,041 shares of the financial services provider’s stock valued at $12,620,000 after buying an additional 96,924 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Sun Life Financial in the fourth quarter valued at $460,000. Finally, Barclays PLC lifted its holdings in Sun Life Financial by 2.9% in the fourth quarter. Barclays PLC now owns 128,498 shares of the financial services provider’s stock valued at $5,714,000 after buying an additional 3,649 shares during the period. Institutional investors own 47.28% of the company’s stock.
Shares of NYSE SLF opened at $50.94 on Friday. The firm’s 50-day moving average is $53.31. Sun Life Financial Inc. has a 1-year low of $35.18 and a 1-year high of $55.07. The firm has a market capitalization of $29.83 billion, a price-to-earnings ratio of 13.34, a P/E/G ratio of 1.32 and a beta of 1.06.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, May 5th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.08 by $0.06. The company had revenue of $1.20 billion during the quarter. Sun Life Financial had a net margin of 8.04% and a return on equity of 14.09%. On average, equities research analysts anticipate that Sun Life Financial Inc. will post 4.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 30th. Stockholders of record on Wednesday, May 26th will be given a dividend of $0.4487 per share. The ex-dividend date of this dividend is Tuesday, May 25th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.43. This represents a $1.79 annualized dividend and a dividend yield of 3.52%. Sun Life Financial’s payout ratio is presently 20.00%.
Several equities analysts recently issued reports on SLF shares. TD Securities dropped their target price on shares of Sun Life Financial from $76.00 to $75.00 and set a “buy” rating on the stock in a report on Thursday, May 6th. Scotiabank boosted their target price on shares of Sun Life Financial from $70.00 to $76.00 and gave the company an “outperform” rating in a report on Thursday, April 29th. Canaccord Genuity boosted their target price on shares of Sun Life Financial from $69.00 to $72.00 and gave the company a “buy” rating in a report on Wednesday, April 28th. CIBC boosted their target price on shares of Sun Life Financial from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, May 7th. Finally, Credit Suisse Group boosted their target price on shares of Sun Life Financial from $67.00 to $71.00 and gave the company an “outperform” rating in a report on Friday, April 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Sun Life Financial currently has a consensus rating of “Buy” and an average target price of $68.10.
About Sun Life Financial
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.
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