Sun Life Financial Inc. $SLF Shares Sold by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management trimmed its stake in Sun Life Financial (SLF) by 6.2% in Q4, selling 70,910 shares and now holds 1,074,314 shares (~0.19% of SLF) valued at about $67.04 million, making SLF its 25th largest position.
• SLF pays a quarterly dividend of $0.92 (a 5.6% yield) and has a market cap of $36.6 billion with a P/E of 15.02; the company beat quarterly EPS estimates ($1.41 vs. $1.35) while Wall Street’s consensus rating is a Hold with a $86.50 price target.

Cardinal Capital Management Inc. trimmed its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 6.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,074,314 shares of the financial services provider's stock after selling 70,910 shares during the period. Sun Life Financial makes up about 0.0% of Cardinal Capital Management Inc.'s portfolio, making the stock its 25th biggest position. Cardinal Capital Management Inc. owned about 0.19% of Sun Life Financial worth $67,037,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SLF. Brighton Jones LLC acquired a new position in Sun Life Financial in the fourth quarter valued at approximately $244,000. AQR Capital Management LLC lifted its holdings in Sun Life Financial by 113.8% in the first quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider's stock valued at $454,000 after acquiring an additional 4,270 shares during the period. Sivia Capital Partners LLC acquired a new position in Sun Life Financial in the second quarter valued at approximately $204,000. Prudential Financial Inc. acquired a new position in Sun Life Financial in the second quarter valued at approximately $232,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Sun Life Financial by 66.4% in the second quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 692 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Performance

Shares of SLF opened at $66.08 on Friday. Sun Life Financial Inc. has a one year low of $53.56 and a one year high of $69.67. The stock has a market capitalization of $36.60 billion, a price-to-earnings ratio of 15.02 and a beta of 0.87. The stock has a 50 day moving average price of $64.49 and a 200 day moving average price of $62.13.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results 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. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.The firm had revenue of $973.53 million during the quarter, compared to analysts' expectations of $973.53 million. During the same period in the previous year, the business earned $1.68 earnings per share. On average, analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th were given a dividend of $0.92 per share. This represents a $3.68 annualized dividend and a dividend yield of 5.6%. The ex-dividend date was Wednesday, February 25th. Sun Life Financial's payout ratio is presently 61.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SLF shares. TD Securities reissued a "buy" rating on shares of Sun Life Financial in a report on Thursday, February 12th. Wall Street Zen downgraded Sun Life Financial from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Canadian Imperial Bank of Commerce reissued a "neutral" rating on shares of Sun Life Financial in a report on Thursday, January 8th. Scotiabank reissued a "sector perform" rating on shares of Sun Life Financial in a report on Thursday, February 5th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Sun Life Financial presently has a consensus rating of "Hold" and a consensus price target of $86.50.

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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