Wellington Management Group LLP Cuts Position in Sun Life Financial Inc. $SLF

Key Points

• Wellington Management Group LLP sold 542,442 shares of Sun Life Financial Inc., reducing its stake by 40.2% to 808,309 shares during the first quarter.
• Sun Life Financial recently increased its quarterly dividend to $0.6394 per share, marking a 4.3% yield and reflecting a commitment to shareholder returns.
• Analysts' ratings for Sun Life Financial vary, with two holding a "Buy" rating, two a "Hold" rating, and one a "Sell" rating, resulting in an average rating of "Hold" and a consensus price target of $88.00.

Wellington Management Group LLP trimmed its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 40.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 808,309 shares of the financial services provider's stock after selling 542,442 shares during the quarter. Wellington Management Group LLP owned 0.14% of Sun Life Financial worth $46,255,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. Investment Management Corp VA ADV increased its holdings in shares of Sun Life Financial by 164.5% during the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock worth $35,000 after buying an additional 385 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in Sun Life Financial by 53.2% during the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 231 shares during the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Sun Life Financial during the 1st quarter worth about $55,000. GeoWealth Management LLC boosted its position in shares of 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 in the last quarter. Finally, CX Institutional bought a new position in shares of Sun Life Financial during the 1st quarter worth about $109,000. 52.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. National Bank Financial cut shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Royal Bank Of Canada lifted their price objective on shares of Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday, May 12th. Barclays lowered shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research note on Monday, July 7th. Finally, Scotiabank raised shares of Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sun Life Financial has a consensus rating of "Hold" and a consensus target price of $88.00.

Sun Life Financial Price Performance

NYSE:SLF traded up $0.47 during trading hours on Tuesday, hitting $58.54. The stock had a trading volume of 3,608,396 shares, compared to its average volume of 705,259. Sun Life Financial Inc. has a one year low of $52.44 and a one year high of $66.81. The firm has a market capitalization of $32.97 billion, a price-to-earnings ratio of 14.49, a P/E/G ratio of 1.56 and a beta of 0.90. The company has a 50 day simple moving average of $61.72 and a two-hundred day simple moving average of $59.80.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.29. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The company had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.34 billion. During the same period in the previous year, the business earned $1.11 earnings per share. Equities research analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

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.