Montrusco Bolton Investments Inc. Sells 99,080 Shares of Sun Life Financial Inc. $SLF

Key Points

• Montrusco Bolton Investments reduced its stake in Sun Life Financial by 32.7%, selling 99,080 shares and leaving it with 203,469 shares valued at about $12.72 million.
• Several other institutions notably increased positions—Intact Investment Management added 882,070 shares, Nicola Wealth and Citigroup also bought more—and institutional investors now own 52.26% of the company.
• Analysts give Sun Life a consensus rating of “Moderate Buy” with an average price target of $86.50; the company recently beat quarterly EPS estimates ($1.41 vs. $1.35) and pays a quarterly dividend of $0.92 (≈5.1% yield).

Montrusco Bolton Investments Inc. decreased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 32.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 203,469 shares of the financial services provider's stock after selling 99,080 shares during the period. Montrusco Bolton Investments Inc.'s holdings in Sun Life Financial were worth $12,718,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. boosted its stake in Sun Life Financial by 28.7% during the third quarter. Nicola Wealth Management LTD. now owns 356,800 shares of the financial services provider's stock valued at $21,427,000 after buying an additional 79,500 shares during the period. Intact Investment Management Inc. boosted its stake in Sun Life Financial by 226.8% during the third quarter. Intact Investment Management Inc. now owns 1,270,947 shares of the financial services provider's stock valued at $76,327,000 after buying an additional 882,070 shares during the period. Citigroup Inc. boosted its stake in Sun Life Financial by 117.7% during the third quarter. Citigroup Inc. now owns 372,723 shares of the financial services provider's stock valued at $22,386,000 after buying an additional 201,485 shares during the period. JPMorgan Chase & Co. boosted its stake in Sun Life Financial by 9.8% during the third quarter. JPMorgan Chase & Co. now owns 2,733,974 shares of the financial services provider's stock valued at $164,120,000 after buying an additional 243,323 shares during the period. Finally, Achmea Investment Management B.V. bought a new stake in Sun Life Financial during the third quarter valued at $2,341,000. Institutional investors own 52.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on SLF shares. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Sun Life Financial in a research note on Thursday, January 8th. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Sun Life Financial in a research note on Friday, February 13th. National Bank Financial raised Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Friday. Evercore reaffirmed an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, February 19th. Finally, Wall Street Zen lowered Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Sunday, March 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $86.50.

Sun Life Financial Trading Up 1.2%

SLF opened at $71.57 on Friday. The company has a market cap of $39.65 billion, a P/E ratio of 16.27 and a beta of 0.87. The business's 50-day moving average price is $65.29 and its 200-day moving average price is $62.84. Sun Life Financial Inc. has a 12 month low of $56.22 and a 12 month high of $72.06.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, topping the consensus estimate of $1.35 by $0.06. The firm had revenue of $973.53 million for the quarter, compared to the consensus estimate of $973.53 million. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.During the same quarter in the previous year, the business earned $1.68 earnings per share. Equities research analysts forecast that Sun Life Financial Inc. will post 5.7 earnings per share for the current fiscal year.

Sun Life Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, February 25th were issued a $0.92 dividend. The ex-dividend date was Wednesday, February 25th. This represents a $3.68 annualized dividend and a dividend yield of 5.1%. Sun Life Financial's payout ratio is currently 61.36%.

About Sun Life Financial

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.

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