Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Avanza Fonder AB

Avanza Fonder AB reduced its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 22.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,616 shares of the financial services provider's stock after selling 9,500 shares during the quarter. Avanza Fonder AB's holdings in Sun Life Financial were worth $1,868,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SLF. Human Investing LLC purchased a new position in shares of Sun Life Financial in the 4th quarter valued at $26,000. Asset Planning Inc acquired a new position in shares of Sun Life Financial in the 4th quarter valued at about $40,000. BankPlus Trust Department acquired a new position in shares of Sun Life Financial in the 4th quarter valued at about $40,000. GeoWealth Management LLC raised its holdings in Sun Life Financial by 4,657.1% in 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 period. Finally, JFS Wealth Advisors LLC raised 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 worth $61,000 after purchasing an additional 838 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Stock Performance

NYSE:SLF traded down $0.75 during mid-day trading on Friday, reaching $64.23. The stock had a trading volume of 499,266 shares, compared to its average volume of 632,359. The firm has a market capitalization of $36.20 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 1.52 and a beta of 0.92. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $65.56. The business has a 50 day simple moving average of $60.87 and a 200 day simple moving average of $58.89.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings data 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. The firm had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $6.44 billion. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. During the same period in the previous year, the firm posted $1.40 EPS. 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 company also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be issued a $0.6332 dividend. The ex-dividend date is Wednesday, May 28th. This represents a $2.53 dividend on an annualized basis and a yield of 3.94%. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's payout ratio is currently 64.89%.

Analyst Ratings Changes

Several equities research analysts have commented on SLF shares. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Royal Bank of Canada increased their price objective on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Finally, Scotiabank restated an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $88.00.

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.