Sun Life Financial Inc (SLF) Shares Sold by Fmr LLC
Fmr LLC lowered its stake in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 76.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,395,576 shares of the financial services provider’s stock after selling 11,311,946 shares during the quarter. Fmr LLC’s holdings in Sun Life Financial were worth $136,454,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Signaturefd LLC bought a new stake in shares of Sun Life Financial in the 1st quarter worth about $116,000. Daiwa Securities Group Inc. bought a new stake in shares of Sun Life Financial in the 2nd quarter worth about $177,000. Davis Rea LTD. bought a new stake in shares of Sun Life Financial in the 2nd quarter worth about $216,000. ARP Americas LP bought a new stake in shares of Sun Life Financial in the 2nd quarter worth about $217,000. Finally, Gideon Capital Advisors Inc. bought a new stake in shares of Sun Life Financial in the 2nd quarter worth about $218,000. Hedge funds and other institutional investors own 41.18% of the company’s stock.
SLF has been the topic of a number of research reports. CIBC downgraded shares of Sun Life Financial from a “sector outperform” rating to a “neutral” rating in a report on Monday, May 28th. Evercore ISI initiated coverage on shares of Sun Life Financial in a report on Tuesday, July 10th. They issued an “outperform” rating on the stock. Zacks Investment Research upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating and set a $45.00 target price on the stock in a report on Tuesday, July 10th. Finally, ValuEngine downgraded shares of Sun Life Financial from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.00.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $1.20 EPS for the quarter, beating the consensus estimate of $0.88 by $0.32. The company had revenue of $5.29 billion for the quarter. Sun Life Financial had a net margin of 9.24% and a return on equity of 13.44%. During the same quarter in the previous year, the company posted $1.12 earnings per share. equities analysts forecast that Sun Life Financial Inc will post 3.57 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Wednesday, August 29th will be issued a dividend of $0.365 per share. The ex-dividend date is Tuesday, August 28th. This represents a $1.46 annualized dividend and a yield of 3.76%. Sun Life Financial’s payout ratio is 45.63%.
About Sun Life Financial
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.
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