Sun Life Financial Inc. (NYSE:SLF) is Intact Investment Management Inc.'s 6th Largest Position

Intact Investment Management Inc. reduced its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 31.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,308,817 shares of the financial services provider's stock after selling 602,210 shares during the quarter. Sun Life Financial makes up approximately 2.6% of Intact Investment Management Inc.'s investment portfolio, making the stock its 6th largest position. Intact Investment Management Inc. owned about 0.23% of Sun Life Financial worth $74,917,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Sun Life Financial by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 24,233,496 shares of the financial services provider's stock worth $1,438,888,000 after purchasing an additional 197,887 shares during the period. The Manufacturers Life Insurance Company grew its holdings in shares of Sun Life Financial by 2.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 9,454,589 shares of the financial services provider's stock worth $562,121,000 after purchasing an additional 198,205 shares during the period. Norges Bank purchased a new position in shares of Sun Life Financial during the 4th quarter worth $382,176,000. Geode Capital Management LLC grew its holdings in shares of Sun Life Financial by 30.6% during the 4th quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider's stock worth $210,080,000 after purchasing an additional 812,689 shares during the period. Finally, Scotia Capital Inc. grew its holdings in shares of Sun Life Financial by 3.3% during the 4th quarter. Scotia Capital Inc. now owns 2,974,065 shares of the financial services provider's stock worth $176,273,000 after purchasing an additional 93,992 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Trading Down 0.0%

Sun Life Financial stock traded down $0.02 during midday trading on Friday, reaching $64.05. 671,860 shares of the stock traded hands, compared to its average volume of 629,242. The company has a 50-day simple moving average of $61.81 and a two-hundred day simple moving average of $58.96. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $65.56. The firm has a market cap of $36.10 billion, a PE ratio of 16.30, a price-to-earnings-growth ratio of 1.74 and a beta of 0.92.

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 EPS for the quarter, beating analysts' consensus estimates of $1.22 by $0.05. Sun Life Financial had a return on equity of 17.33% and a net margin of 7.47%. The company had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $6.44 billion. During the same period last year, the business posted $1.40 EPS. Equities research analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th will be paid a $0.6332 dividend. This represents a $2.53 annualized dividend and a dividend yield of 3.95%. The ex-dividend date is Wednesday, May 28th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio (DPR) is presently 64.89%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SLF shares. Scotiabank reiterated an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. Royal Bank Of Canada increased 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. Finally, BMO Capital Markets restated 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 and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus 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.