Mackenzie Financial Corp Sells 333,568 Shares of Sun Life Financial Inc. (NYSE:SLF)

Mackenzie Financial Corp lowered its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,947,937 shares of the financial services provider's stock after selling 333,568 shares during the quarter. Sun Life Financial makes up approximately 1.0% of Mackenzie Financial Corp's portfolio, making the stock its 20th largest holding. Mackenzie Financial Corp owned about 2.06% of Sun Life Financial worth $767,968,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Human Investing LLC purchased a new stake in Sun Life Financial during the fourth quarter valued at about $26,000. Asset Planning Inc purchased a new stake in Sun Life Financial during the fourth quarter valued at about $40,000. BankPlus Trust Department purchased a new stake in Sun Life Financial during the fourth quarter valued at about $40,000. GeoWealth Management LLC lifted its holdings in Sun Life Financial by 4,657.1% during the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 978 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Sun Life Financial by 432.0% in the fourth quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider's stock worth $61,000 after buying an additional 838 shares in the last quarter. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Performance

SLF traded down $0.51 on Wednesday, reaching $63.78. The company had a trading volume of 527,025 shares, compared to its average volume of 665,088. The business has a 50 day simple moving average of $58.77 and a 200 day simple moving average of $58.53. The company has a market cap of $36.02 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.52 and a beta of 0.90. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $64.65.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.05. The business had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $6.44 billion. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. During the same period last year, the firm posted $1.40 earnings per share. As a group, equities research analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, May 28th will be paid a $0.6332 dividend. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 dividend on an annualized basis and a yield of 3.97%. 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 Analysts Forecast Growth

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