Bank of Montreal Can Lowers Stake in Sun Life Financial Inc (SLF)

Bank of Montreal Can reduced its stake in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 8.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 12,651,374 shares of the financial services provider’s stock after selling 1,102,966 shares during the quarter. Bank of Montreal Can’s holdings in Sun Life Financial were worth $521,995,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of SLF. JPMorgan Chase & Co. lifted its stake in shares of Sun Life Financial by 13.9% during the second quarter. JPMorgan Chase & Co. now owns 261,590 shares of the financial services provider’s stock worth $9,352,000 after buying an additional 31,893 shares during the period. Franklin Resources Inc. lifted its position in Sun Life Financial by 6.1% during the second quarter. Franklin Resources Inc. now owns 244,341 shares of the financial services provider’s stock valued at $8,740,000 after purchasing an additional 14,109 shares during the period. Wells Fargo & Company MN lifted its position in Sun Life Financial by 12.4% during the second quarter. Wells Fargo & Company MN now owns 118,310 shares of the financial services provider’s stock valued at $4,230,000 after purchasing an additional 13,033 shares during the period. Alliancebernstein L.P. lifted its position in Sun Life Financial by 57.9% during the second quarter. Alliancebernstein L.P. now owns 75,784 shares of the financial services provider’s stock valued at $2,709,000 after purchasing an additional 27,776 shares during the period. Finally, Nationwide Fund Advisors lifted its position in Sun Life Financial by 120.9% during the second quarter. Nationwide Fund Advisors now owns 70,141 shares of the financial services provider’s stock valued at $2,508,000 after purchasing an additional 38,386 shares during the period. Institutional investors and hedge funds own 41.16% of the company’s stock.

Sun Life Financial Inc (SLF) traded up $1.49 during midday trading on Tuesday, reaching $43.44. 918,591 shares of the company were exchanged, compared to its average volume of 518,520. The firm has a market capitalization of $27,400.00, a P/E ratio of 12.48, a PEG ratio of 1.72 and a beta of 0.93. Sun Life Financial Inc has a 52 week low of $32.22 and a 52 week high of $43.99. The company has a quick ratio of 4.42, a current ratio of 4.42 and a debt-to-equity ratio of 0.21.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, November 8th. The financial services provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.78 by $0.05. Sun Life Financial had a net margin of 11.94% and a return on equity of 13.17%. equities analysts predict that Sun Life Financial Inc will post 3.17 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Shareholders of record on Wednesday, November 29th were issued a $0.3565 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, November 28th. This represents a $1.43 dividend on an annualized basis and a yield of 3.28%. Sun Life Financial’s payout ratio is presently 41.67%.

A number of research analysts recently issued reports on SLF shares. Zacks Investment Research downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. Morgan Stanley boosted their target price on shares of Sun Life Financial from $52.00 to $53.00 and gave the company an “equal weight” rating in a research report on Thursday, October 5th. BMO Capital Markets restated a “hold” rating and set a $52.00 target price on shares of Sun Life Financial in a research report on Friday, November 24th. Finally, TD Securities upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Sun Life Financial presently has a consensus rating of “Buy” and a consensus price target of $50.80.

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Sun Life Financial Profile

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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