Sun Life Financial Inc. (NYSE:SLF) is QV Investors Inc.'s Largest Position

QV Investors Inc. cut its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,328,840 shares of the financial services provider's stock after selling 23,606 shares during the period. Sun Life Financial makes up 7.7% of QV Investors Inc.'s portfolio, making the stock its biggest position. QV Investors Inc. owned about 0.23% of Sun Life Financial worth $76,042,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Sun Life Financial by 0.8% in the fourth 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 last quarter. The Manufacturers Life Insurance Company grew its position 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 valued at $562,121,000 after acquiring an additional 198,205 shares during the period. CIBC Asset Management Inc raised its holdings in Sun Life Financial by 10.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider's stock worth $427,712,000 after purchasing an additional 703,391 shares during the period. Norges Bank purchased a new stake in Sun Life Financial in the fourth quarter worth about $382,176,000. Finally, Geode Capital Management LLC lifted its position 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 valued at $210,080,000 after buying an additional 812,689 shares in the last quarter. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Trading Down 0.4%

Shares of NYSE:SLF traded down $0.25 during trading on Tuesday, reaching $64.92. The company's stock had a trading volume of 526,063 shares, compared to its average volume of 649,350. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $68.55. The firm's 50 day simple moving average is $59.36 and its two-hundred day simple moving average is $58.64. The stock has a market capitalization of $36.66 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, beating the consensus estimate 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 company posted $1.40 EPS. Research analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, May 28th will be paid a dividend of $0.6332 per share. The ex-dividend date is Wednesday, May 28th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 dividend on an annualized basis and a dividend yield of 3.90%. Sun Life Financial's payout ratio is currently 62.09%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SLF shares. Wall Street Zen lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Scotiabank reissued an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Royal Bank of Canada lifted their price target on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a report on Monday, May 12th. Finally, Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $88.00.

About Sun Life Financial

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.