Sun Life Financial Inc. $SLF Shares Sold by Montrusco Bolton Investments Inc.

Montrusco Bolton Investments Inc. cut its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 17.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 302,549 shares of the financial services provider’s stock after selling 65,818 shares during the quarter. Montrusco Bolton Investments Inc.’s holdings in Sun Life Financial were worth $18,172,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Bank of Nova Scotia lifted its holdings in shares of Sun Life Financial by 6.5% in the 2nd quarter. Bank of Nova Scotia now owns 6,157,205 shares of the financial services provider’s stock worth $409,576,000 after acquiring an additional 377,204 shares during the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Sun Life Financial by 41.1% during the second quarter. Ontario Teachers Pension Plan Board now owns 61,113 shares of the financial services provider’s stock worth $4,069,000 after purchasing an additional 17,799 shares in the last quarter. Intact Investment Management Inc. lifted its stake in Sun Life Financial by 226.8% during the third quarter. Intact Investment Management Inc. now owns 1,270,947 shares of the financial services provider’s stock worth $76,327,000 after purchasing an additional 882,070 shares in the last quarter. Nicola Wealth Management LTD. boosted its position in shares of Sun Life Financial by 28.7% during the third quarter. Nicola Wealth Management LTD. now owns 356,800 shares of the financial services provider’s stock worth $21,427,000 after buying an additional 79,500 shares during the period. Finally, Bank of Nova Scotia Trust Co. grew its stake in shares of Sun Life Financial by 2.1% in the second quarter. Bank of Nova Scotia Trust Co. now owns 310,147 shares of the financial services provider’s stock valued at $20,609,000 after buying an additional 6,424 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Sun Life Financial stock opened at $65.46 on Thursday. The stock has a market cap of $36.26 billion, a PE ratio of 14.88 and a beta of 0.88. The stock’s fifty day moving average is $63.82 and its two-hundred day moving average is $61.02. Sun Life Financial Inc. has a 1-year low of $52.44 and a 1-year high of $69.67.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. The business had revenue of $973.53 million for the quarter, compared to the consensus estimate 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 prior year, the business posted $1.68 EPS. On average, research analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, February 25th will be issued a $0.92 dividend. The ex-dividend date is Wednesday, February 25th. This represents a $3.68 annualized dividend and a dividend yield of 5.6%. Sun Life Financial’s dividend payout ratio is presently 59.55%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on SLF shares. TD Securities restated a “buy” rating on shares of Sun Life Financial in a report on Thursday, February 12th. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a report on Friday, February 13th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, February 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Friday, February 13th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Sun Life Financial currently has an average rating of “Hold” and a consensus target price of $86.50.

About Sun Life Financial

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.