Sun Life Financial Inc. $SLF Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC decreased its stake in Sun Life Financial Inc. by 20.3%, selling 424,582 shares in the first quarter, now owning approximately 1.67 million shares valued at $95.37 million.
• Sun Life Financial recently reported $1.29 EPS for the quarter, matching analyst expectations, although its revenue fell short with $6.65 billion against estimates of $7.34 billion.
• The company announced a quarterly dividend increase to $0.6394 per share, representing a yield of 4.4%, with the dividend payout ratio currently at 63.12%.

Hsbc Holdings PLC lessened its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 20.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,666,645 shares of the financial services provider's stock after selling 424,582 shares during the quarter. Hsbc Holdings PLC owned about 0.29% of Sun Life Financial worth $95,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV boosted its holdings in Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock worth $35,000 after acquiring an additional 385 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Sun Life Financial by 53.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock worth $38,000 after acquiring an additional 231 shares during the period. Financial Gravity Asset Management Inc. purchased a new position in Sun Life Financial in the 1st quarter worth approximately $55,000. GeoWealth Management LLC boosted 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 acquiring an additional 978 shares during the period. Finally, CX Institutional purchased a new position in Sun Life Financial in the 1st quarter worth approximately $109,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Price Performance

Shares of SLF stock traded up $0.04 on Tuesday, hitting $58.11. 150,216 shares of the stock traded hands, compared to its average volume of 685,655. The company has a market capitalization of $32.73 billion, a PE ratio of 14.39, a PEG ratio of 1.58 and a beta of 0.90. Sun Life Financial Inc. has a 1-year low of $52.44 and a 1-year high of $66.81. The company's fifty day moving average is $61.84 and its 200 day moving average is $59.81.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.29. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.34 billion. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same period in the prior year, the company posted $1.11 EPS. As a group, equities research analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank Of Canada upped their price target on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Scotiabank upgraded Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. Barclays cut Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research note on Monday, July 7th. National Bank Financial cut Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Two equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Sun Life Financial presently has an average rating of "Hold" and a consensus target price of $88.00.

About Sun Life Financial

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.