Sun Life Financial Inc. $SLF Shares Sold by QV Investors Inc.

Key Points

• QV Investors trimmed its Sun Life stake by 20.4% in Q4, selling 204,248 shares and now holding 798,515 shares worth about $49.9M, making Sun Life its 7th-largest position (4.1% of the fund).
• Sun Life beat Q4 EPS estimates ($1.41 vs. $1.35) with revenue of $973.5M, and recently declared a quarterly dividend of $0.92 ($3.68 annual), implying a 5.8% yield and a 61.36% payout ratio.
• The stock trades near $63.56 with a market cap of $35.2B and a P/E of 14.44; analysts' average rating is a "Hold" with a consensus target of $86.50 amid mixed individual ratings.

QV Investors Inc. lowered its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 20.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 798,515 shares of the financial services provider's stock after selling 204,248 shares during the quarter. Sun Life Financial makes up 4.1% of QV Investors Inc.'s holdings, making the stock its 7th largest position. QV Investors Inc. owned about 0.14% of Sun Life Financial worth $49,912,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Smartleaf Asset Management LLC lifted its position in shares of Sun Life Financial by 184.1% during the 3rd quarter. Smartleaf Asset Management LLC now owns 588 shares of the financial services provider's stock valued at $35,000 after buying an additional 381 shares in the last quarter. Westside Investment Management Inc. increased its holdings in Sun Life Financial by 38.6% in the 3rd quarter. Westside Investment Management Inc. now owns 801 shares of the financial services provider's stock worth $48,000 after acquiring an additional 223 shares in the last quarter. Grey Fox Wealth Advisors LLC purchased a new stake in Sun Life Financial in the 3rd quarter worth $62,000. Triumph Capital Management acquired a new position in Sun Life Financial during the third quarter worth $64,000. Finally, Financial Consulate Inc. purchased a new position in Sun Life Financial during the third quarter valued at $72,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Stock Down 0.1%

NYSE:SLF opened at $63.56 on Friday. Sun Life Financial Inc. has a 52 week low of $52.44 and a 52 week high of $69.67. The stock's fifty day moving average is $64.35 and its two-hundred day moving average is $62.00. The company has a market capitalization of $35.20 billion, a P/E ratio of 14.44 and a beta of 0.87.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.06. The business had revenue of $973.53 million during the quarter, compared to analysts' expectations 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 period in the prior year, the business posted $1.68 EPS. Sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th were given a dividend of $0.92 per share. The ex-dividend date was Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.8%. Sun Life Financial's dividend payout ratio (DPR) is currently 61.36%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SLF shares. Canadian Imperial Bank of Commerce reiterated a "neutral" rating on shares of Sun Life Financial in a research report on Thursday, January 8th. Wall Street Zen lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Sunday, March 8th. Scotiabank reiterated a "sector perform" rating on shares of Sun Life Financial in a report on Thursday, February 5th. Evercore reissued an "outperform" rating on shares of Sun Life Financial in a report on Thursday, February 19th. Finally, BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price 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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