Sun Life Financial Inc. $SLF Shares Sold by Aviva PLC

Aviva PLC lessened its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 51.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 477,503 shares of the financial services provider’s stock after selling 515,947 shares during the quarter. Aviva PLC owned about 0.08% of Sun Life Financial worth $31,767,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Fox Run Management L.L.C. acquired a new stake in Sun Life Financial during the 2nd quarter worth $319,000. Metis Global Partners LLC lifted its stake in shares of Sun Life Financial by 6.6% in the second quarter. Metis Global Partners LLC now owns 38,183 shares of the financial services provider’s stock worth $2,541,000 after buying an additional 2,356 shares in the last quarter. Harvest Portfolios Group Inc. boosted its position in Sun Life Financial by 1.0% during the second quarter. Harvest Portfolios Group Inc. now owns 53,754 shares of the financial services provider’s stock worth $3,577,000 after acquiring an additional 554 shares during the last quarter. Savant Capital LLC grew its stake in Sun Life Financial by 43.5% during the 2nd quarter. Savant Capital LLC now owns 10,512 shares of the financial services provider’s stock valued at $699,000 after acquiring an additional 3,186 shares in the last quarter. Finally, Sienna Gestion raised its holdings in Sun Life Financial by 11.0% in the 2nd quarter. Sienna Gestion now owns 186,385 shares of the financial services provider’s stock valued at $11,301,000 after acquiring an additional 18,500 shares during the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SLF shares. Barclays restated an “underweight” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. Morgan Stanley set a $89.00 target price on Sun Life Financial in a report on Tuesday, October 7th. TD Securities upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. Argus raised shares of Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. Finally, UBS Group began coverage on shares of Sun Life Financial in a research note on Thursday, October 16th. They set a “neutral” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sun Life Financial has an average rating of “Hold” and a consensus target price of $88.50.

Sun Life Financial Stock Down 0.9%

NYSE:SLF opened at $58.54 on Monday. Sun Life Financial Inc. has a 52 week low of $52.44 and a 52 week high of $66.81. The stock’s fifty day moving average is $60.18 and its two-hundred day moving average is $61.36. The stock has a market capitalization of $32.69 billion, a price-to-earnings ratio of 14.49, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.05. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The firm had revenue of $944.53 million for the quarter, compared to the consensus estimate of $944.53 million. During the same quarter in the previous year, the business earned $2.33 EPS. On average, sell-side analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, November 26th will be paid a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, November 26th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.64. This represents a $3.68 annualized dividend and a dividend yield of 6.3%. Sun Life Financial’s payout ratio is 69.41%.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.