Northern Trust Corp Cuts Holdings in Sun Life Financial Inc (NYSE:SLF)

Northern Trust Corp lowered its stake in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 566,275 shares of the financial services provider’s stock after selling 2,759 shares during the period. Northern Trust Corp owned 0.09% of Sun Life Financial worth $18,795,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Blueshift Asset Management LLC purchased a new position in shares of Sun Life Financial during the fourth quarter valued at about $890,000. Van ECK Associates Corp boosted its stake in Sun Life Financial by 36.1% during the fourth quarter. Van ECK Associates Corp now owns 2,335 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 619 shares in the last quarter. Aviva PLC boosted its stake in Sun Life Financial by 62.0% during the fourth quarter. Aviva PLC now owns 480,586 shares of the financial services provider’s stock worth $15,966,000 after acquiring an additional 183,966 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its stake in Sun Life Financial by 0.6% during the fourth quarter. Montrusco Bolton Investments Inc. now owns 1,807,535 shares of the financial services provider’s stock worth $59,938,000 after acquiring an additional 11,137 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. boosted its stake in Sun Life Financial by 249.2% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 333,442 shares of the financial services provider’s stock worth $9,672,000 after acquiring an additional 237,945 shares in the last quarter. Institutional investors own 41.22% of the company’s stock.

SLF stock traded up $0.03 during midday trading on Friday, reaching $40.99. 284,600 shares of the company’s stock traded hands, compared to its average volume of 486,902. Sun Life Financial Inc has a 52-week low of $31.49 and a 52-week high of $43.99. The stock has a market cap of $24.11 billion, a P/E ratio of 10.93 and a beta of 0.86.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, February 13th. The financial services provider reported $1.19 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.32. The business had revenue of $8.18 billion during the quarter, compared to analysts’ expectations of $6.28 billion. Sun Life Financial had a net margin of 9.71% and a return on equity of 13.83%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.05 earnings per share. On average, sell-side analysts predict that Sun Life Financial Inc will post 3.76 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 1st were paid a $0.381 dividend. The ex-dividend date was Thursday, February 28th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.38. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.72%. Sun Life Financial’s dividend payout ratio is 40.53%.

SLF has been the topic of several research reports. Argus raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Monday, December 31st. They noted that the move was a valuation call. BMO Capital Markets reiterated a “buy” rating and issued a $58.00 target price on shares of Sun Life Financial in a research note on Friday. ValuEngine upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Canaccord Genuity reiterated a “hold” rating on shares of Sun Life Financial in a research note on Tuesday, February 5th. Finally, Scotiabank reissued a “hold” rating and set a $54.00 price objective on shares of Sun Life Financial in a report on Wednesday, February 20th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $52.60.

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Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

Further Reading: Conference Calls and Individual Investors

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

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