Ameriprise Financial Inc. Has $1.02 Million Holdings in Sun Life Financial Inc. (NYSE:SLF)

Ameriprise Financial Inc. decreased its stake in Sun Life Financial Inc. (NYSE:SLFFree Report) (TSE:SLF) by 90.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,156 shares of the financial services provider’s stock after selling 156,082 shares during the quarter. Ameriprise Financial Inc.’s holdings in Sun Life Financial were worth $1,018,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of SLF. Norges Bank acquired a new stake in shares of Sun Life Financial during the fourth quarter worth about $382,176,000. Intact Investment Management Inc. increased its stake in Sun Life Financial by 295.5% during the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider’s stock worth $113,453,000 after purchasing an additional 1,427,815 shares in the last quarter. Wellington Management Group LLP raised its holdings in Sun Life Financial by 2,071.4% during the 4th quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider’s stock worth $80,160,000 after buying an additional 1,288,545 shares during the period. Canada Pension Plan Investment Board lifted its stake in Sun Life Financial by 71.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,867,939 shares of the financial services provider’s stock valued at $170,068,000 after buying an additional 1,200,000 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Sun Life Financial by 30.6% in the fourth quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider’s stock valued at $210,080,000 after buying an additional 812,689 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

Sun Life Financial stock opened at $64.59 on Monday. The company has a market cap of $36.48 billion, a price-to-earnings ratio of 16.82, a P/E/G ratio of 1.52 and a beta of 0.90. The firm has a 50-day moving average of $59.20 and a 200-day moving average of $58.60. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $65.11.

Sun Life Financial (NYSE:SLFGet Free Report) (TSE:SLF) last released its earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.05. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the prior year, the company posted $1.40 earnings per share. As a group, sell-side analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th will be paid a dividend of $0.6332 per share. The ex-dividend date of this dividend is Wednesday, May 28th. This represents a $2.53 dividend on an annualized basis and a dividend yield of 3.92%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio is currently 62.09%.

Analyst Ratings Changes

A number of brokerages recently commented on SLF. Scotiabank restated an “outperform” rating on shares of Sun Life Financial in a report on Thursday, May 1st. BMO Capital Markets reissued an “outperform” rating on shares of Sun Life Financial in a research note on Monday, May 12th. Wall Street Zen lowered Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Cormark upgraded Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Finally, Royal Bank of Canada lifted their target price on Sun Life Financial from $82.00 to $88.00 and gave the company an “outperform” rating in a research report on Monday, May 12th. Two investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

Check Out Our Latest Analysis on SLF

About Sun Life Financial

(Free Report)

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.

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

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