Sun Life Financial Inc. (NYSE:SLF) Stock Holdings Lessened by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 90.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,156 shares of the financial services provider's stock after selling 156,082 shares during the period. Ameriprise Financial Inc.'s holdings in Sun Life Financial were worth $1,018,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Human Investing LLC purchased a new position in Sun Life Financial in the fourth quarter worth approximately $26,000. Asset Planning Inc purchased a new position in shares of Sun Life Financial during the 4th quarter worth $40,000. BankPlus Trust Department purchased a new position in shares of Sun Life Financial during the 4th quarter worth $40,000. GeoWealth Management LLC increased its position in shares of Sun Life Financial by 4,657.1% during the 4th quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock worth $59,000 after purchasing an additional 978 shares during the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in Sun Life Financial by 432.0% in the 4th quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 838 shares during the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Sun Life Financial Stock Performance

SLF stock traded up $0.19 during midday trading on Thursday, reaching $65.00. 42,906 shares of the company were exchanged, compared to its average volume of 646,254. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $65.28. The company has a market cap of $36.71 billion, a price-to-earnings ratio of 16.92, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The stock's 50-day simple moving average is $59.68 and its 200 day simple moving average is $58.72.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.05. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same period in the previous year, the business posted $1.40 earnings per share. On average, research analysts anticipate 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 is Wednesday, May 28th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a dividend yield of 3.90%. Sun Life Financial's payout ratio is currently 62.09%.

Sun Life Financial Company 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.