Sun Life Financial Inc. $SLF Stock Position Lessened by Mufg Securities Canada LTD.

Mufg Securities Canada LTD. trimmed its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 783,684 shares of the financial services provider’s stock after selling 37,878 shares during the period. Sun Life Financial makes up approximately 1.6% of Mufg Securities Canada LTD.’s investment portfolio, making the stock its 20th largest holding. Mufg Securities Canada LTD.’s holdings in Sun Life Financial were worth $61,430,000 as of its most recent filing with the SEC.

Other institutional investors have also bought and sold shares of the company. Two Sigma Securities LLC bought a new position in Sun Life Financial in the 2nd quarter valued at about $316,000. Flputnam Investment Management Co. bought a new stake in shares of Sun Life Financial during the 2nd quarter worth about $211,000. Hsbc Holdings PLC acquired a new stake in shares of Sun Life Financial in the 2nd quarter worth approximately $322,000. Wellington Management Group LLP acquired a new stake in shares of Sun Life Financial in the 2nd quarter worth approximately $220,567,000. Finally, Beacon Pointe Advisors LLC bought a new position in shares of Sun Life Financial in the second quarter valued at approximately $584,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLF has been the topic of several recent analyst reports. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a report on Friday, August 7th. Argus set a $81.00 price objective on Sun Life Financial in a research note on Wednesday, June 10th. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a report on Friday, May 8th. Evercore cut Sun Life Financial from an “outperform” rating to an “in-line” rating in a research note on Monday, July 13th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $96.33.

Sun Life Financial Stock Down 0.4%

SLF opened at $78.47 on Tuesday. The firm has a market cap of $43.73 billion, a PE ratio of 18.34 and a beta of 0.88. The business has a fifty day simple moving average of $80.34 and a 200-day simple moving average of $72.82. Sun Life Financial Inc. has a fifty-two week low of $57.22 and a fifty-two week high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.07. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%.The company had revenue of $10.10 billion for the quarter, compared to analyst estimates of $994.33 million. On average, equities research analysts anticipate that Sun Life Financial Inc. will post 5.72 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Wednesday, August 26th will be issued a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 4.9%. The ex-dividend date is Wednesday, August 26th. Sun Life Financial’s payout ratio is presently 64.02%.

Sun Life Financial Profile

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.