Mn Services Vermogensbeheer B.V. Sells 16,400 Shares of Sun Life Financial Inc. (NYSE:SLF)

Mn Services Vermogensbeheer B.V. reduced its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 7.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 211,345 shares of the financial services provider's stock after selling 16,400 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in Sun Life Financial were worth $12,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Human Investing LLC bought a new position in shares of Sun Life Financial in the 4th quarter worth $26,000. BankPlus Trust Department bought a new position in Sun Life Financial during the fourth quarter worth 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 worth $59,000 after acquiring an additional 978 shares in the last quarter. JFS Wealth Advisors LLC lifted its holdings in Sun Life Financial by 432.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider's stock worth $61,000 after acquiring an additional 838 shares in the last quarter. Finally, Union Bancaire Privee UBP SA bought a new position in Sun Life Financial during the fourth quarter worth about $95,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. 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. Scotiabank reiterated an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. Finally, BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

Sun Life Financial Price Performance

NYSE SLF traded up $0.36 during trading on Monday, reaching $64.67. 358,778 shares of the company's stock were exchanged, compared to its average volume of 631,265. The business has a 50 day moving average price of $60.87 and a 200-day moving average price of $58.88. The stock has a market capitalization of $36.45 billion, a P/E ratio of 16.84, a PEG ratio of 1.52 and a beta of 0.92. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $65.56.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.05. The firm had revenue of $7.91 billion for 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 quarter in the previous year, the business earned $1.40 earnings per share. On average, analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be given a dividend of $0.6332 per share. This represents a $2.53 dividend on an annualized basis and a yield of 3.92%. The ex-dividend date is Wednesday, May 28th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's payout ratio is 64.89%.

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.