Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. lessened its stake in Sun Life Financial Inc. (NYSE:SLFGet Rating) (TSE:SLF) by 83.8% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,646 shares of the financial services provider’s stock after selling 23,980 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Sun Life Financial were worth $262,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Brinker Capital Investments LLC increased its holdings in shares of Sun Life Financial by 1.4% in the fourth quarter. Brinker Capital Investments LLC now owns 12,828 shares of the financial services provider’s stock valued at $714,000 after purchasing an additional 173 shares during the last quarter. JCIC Asset Management Inc. increased its holdings in shares of Sun Life Financial by 0.8% in the first quarter. JCIC Asset Management Inc. now owns 26,721 shares of the financial services provider’s stock valued at $1,492,000 after purchasing an additional 205 shares during the last quarter. Cetera Advisor Networks LLC increased its holdings in shares of Sun Life Financial by 2.4% in the first quarter. Cetera Advisor Networks LLC now owns 10,835 shares of the financial services provider’s stock valued at $605,000 after purchasing an additional 250 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in Sun Life Financial by 1.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 20,691 shares of the financial services provider’s stock worth $1,152,000 after acquiring an additional 264 shares during the last quarter. Finally, Cetera Investment Advisers increased its stake in Sun Life Financial by 1.2% during the fourth quarter. Cetera Investment Advisers now owns 22,447 shares of the financial services provider’s stock worth $1,250,000 after acquiring an additional 269 shares during the last quarter. Institutional investors and hedge funds own 46.86% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SLF shares. Barclays started coverage on Sun Life Financial in a research note on Thursday, June 9th. They set an “overweight” rating and a $71.00 target price for the company. Scotiabank cut their target price on Sun Life Financial from C$71.00 to C$67.00 in a research note on Friday, May 13th. Canaccord Genuity Group cut their target price on Sun Life Financial from C$75.50 to C$67.00 in a research note on Sunday, May 15th. National Bank Financial cut their target price on Sun Life Financial from C$68.00 to C$67.00 in a research note on Tuesday, July 19th. Finally, TD Securities lowered their price target on Sun Life Financial from C$72.00 to C$68.00 in a research report on Wednesday, June 1st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.14.

Sun Life Financial Trading Up 0.6 %

NYSE:SLF opened at $43.95 on Friday. The firm has a market cap of $25.76 billion, a PE ratio of 8.91, a price-to-earnings-growth ratio of 1.06 and a beta of 1.00. The stock has a fifty day moving average price of $45.80 and a 200 day moving average price of $49.58. Sun Life Financial Inc. has a 12-month low of $42.83 and a 12-month high of $58.49.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Investors of record on Wednesday, August 24th will be issued a $0.539 dividend. The ex-dividend date of this dividend is Tuesday, August 23rd. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.54. This represents a $2.16 dividend on an annualized basis and a yield of 4.91%. Sun Life Financial’s dividend payout ratio (DPR) is 42.94%.

Sun Life Financial Company Profile

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Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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

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