QV Investors Inc. Trims Stock Position in Sun Life Financial Inc. (NYSE:SLF)

QV Investors Inc. lowered its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 1,328,840 shares of the financial services provider's stock after selling 23,606 shares during the period. Sun Life Financial accounts for approximately 7.7% of QV Investors Inc.'s holdings, making the stock its largest position. QV Investors Inc. owned about 0.23% of Sun Life Financial worth $76,042,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Human Investing LLC acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $26,000. Asset Planning Inc acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $40,000. BankPlus Trust Department acquired a new stake in Sun Life Financial during the 4th quarter worth approximately $40,000. GeoWealth Management LLC lifted its holdings in Sun Life Financial by 4,657.1% during the 4th quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock worth $59,000 after purchasing an additional 978 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in Sun Life Financial by 432.0% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider's stock worth $61,000 after purchasing an additional 838 shares during the last quarter. Institutional investors own 52.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Royal Bank of Canada lifted their price objective on Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. Wall Street Zen cut Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Sun Life Financial has an average rating of "Moderate Buy" and an average target price of $88.00.

Sun Life Financial Price Performance

SLF stock traded up $0.17 during midday trading on Thursday, reaching $64.98. 103,353 shares of the stock were exchanged, compared to its average volume of 646,479. The stock has a market capitalization of $36.70 billion, a PE ratio of 16.92, 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 $65.28. The company has a fifty day moving average price of $59.68 and a 200 day moving average price of $58.72.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings data 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. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. The business had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. During the same quarter in the previous year, the company posted $1.40 EPS. As a group, analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business 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 $0.6332 dividend. This represents a $2.53 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date is Wednesday, May 28th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's payout ratio is 62.09%.

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.