Hsbc Holdings PLC Sells 271,906 Shares of Sun Life Financial Inc. (NYSE:SLF)

Hsbc Holdings PLC trimmed its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 11.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,091,227 shares of the financial services provider’s stock after selling 271,906 shares during the period. Hsbc Holdings PLC’s holdings in Sun Life Financial were worth $124,131,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Human Investing LLC purchased a new stake in shares of Sun Life Financial during the 4th quarter valued at about $26,000. Asset Planning Inc purchased a new stake in Sun Life Financial in the fourth quarter worth approximately $40,000. BankPlus Trust Department bought a new stake in Sun Life Financial in the 4th quarter worth approximately $40,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Sun Life Financial during the 4th quarter valued at $45,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Sun Life Financial during the 3rd quarter valued at $51,000. 52.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on SLF shares. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Cormark upgraded shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

Sun Life Financial Stock Performance

NYSE SLF opened at $57.12 on Wednesday. The business’s fifty day moving average is $55.83 and its 200 day moving average is $57.81. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85. The company has a market capitalization of $32.42 billion, a PE ratio of 14.87, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. On average, sell-side analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th were given a $0.5876 dividend. The ex-dividend date was Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.11%. Sun Life Financial’s payout ratio is currently 60.16%.

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.