Cetera Investment Advisers Sells 4,227 Shares of Sun Life Financial Inc. (NYSE:SLF)

Cetera Investment Advisers lessened its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 7.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,695 shares of the financial services provider's stock after selling 4,227 shares during the quarter. Cetera Investment Advisers' holdings in Sun Life Financial were worth $3,068,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SLF. Barclays PLC grew its holdings in Sun Life Financial by 61.3% during the 3rd quarter. Barclays PLC now owns 5,907 shares of the financial services provider's stock valued at $343,000 after buying an additional 2,244 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Sun Life Financial by 4.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 65,096 shares of the financial services provider's stock worth $3,863,000 after purchasing an additional 2,507 shares during the period. Avanza Fonder AB purchased a new position in shares of Sun Life Financial in the 4th quarter worth approximately $2,499,000. Atomi Financial Group Inc. purchased a new position in shares of Sun Life Financial in the 4th quarter worth approximately $240,000. Finally, SG Americas Securities LLC purchased a new position in shares of Sun Life Financial in the 4th quarter worth approximately $127,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Trading Down 0.1%

Shares of SLF stock traded down $0.03 on Thursday, reaching $63.08. 61,191 shares of the company's stock were exchanged, compared to its average volume of 663,931. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $63.78. The stock has a market capitalization of $35.62 billion, a PE ratio of 16.40, a P/E/G ratio of 1.52 and a beta of 0.90. The company's fifty day simple moving average is $58.21 and its 200 day simple moving average is $58.38.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $7.91 billion during the quarter, compared to analyst estimates of $6.44 billion. During the same period last year, the company earned $1.40 EPS. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.6332 per share. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 dividend on an annualized basis and a dividend yield of 4.02%. The ex-dividend date of this dividend is Wednesday, May 28th. Sun Life Financial's dividend payout ratio (DPR) is currently 62.09%.

Wall Street Analyst Weigh In

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

Sun Life Financial Profile

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.