Sun Life Financial Inc. $SLF Stock: Crossmark Global Holdings Inc. Cuts Holdings

Key Points

• Crossmark Global Holdings reduced its Sun Life Financial stake by 7.9% in the third quarter, selling 14,748 shares and retaining 171,699 shares valued at approximately $13.4 million. Institutional investors collectively own 52.26% of the company.
• Sun Life shares opened at $80.74, near their one-year high of $84.38. The company recently exceeded earnings expectations, reporting $1.46 in quarterly EPS versus the $1.39 consensus estimate.
• Sun Life paid a quarterly dividend of C$0.96, equivalent to an annualized C$3.84 and a 4.8% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $103.50.

Crossmark Global Holdings Inc. trimmed its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 7.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 171,699 shares of the financial services provider's stock after selling 14,748 shares during the period. Crossmark Global Holdings Inc.'s holdings in Sun Life Financial were worth $13,387,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Guardian Partners Inc. boosted its stake in Sun Life Financial by 0.7% during the third quarter. Guardian Partners Inc. now owns 129,094 shares of the financial services provider's stock valued at $10,085,000 after buying an additional 938 shares in the last quarter. Diversify Advisory Services LLC raised its position in Sun Life Financial by 4.1% in the third quarter. Diversify Advisory Services LLC now owns 9,909 shares of the financial services provider's stock worth $778,000 after acquiring an additional 388 shares in the last quarter. Investment Research Partners LLC lifted its holdings in Sun Life Financial by 1.6% in the 3rd quarter. Investment Research Partners LLC now owns 10,561 shares of the financial services provider's stock valued at $823,000 after acquiring an additional 171 shares during the last quarter. Gold Investment Management Ltd. lifted its holdings in Sun Life Financial by 2.2% in the 3rd quarter. Gold Investment Management Ltd. now owns 46,802 shares of the financial services provider's stock valued at $3,648,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Cardinal Capital Management Inc. boosted its position in shares of Sun Life Financial by 0.6% during the 3rd quarter. Cardinal Capital Management Inc. now owns 1,176,271 shares of the financial services provider's stock valued at $91,916,000 after purchasing an additional 7,497 shares in the last quarter. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Trading Up 0.0%

SLF stock opened at $80.74 on Friday. Sun Life Financial Inc. has a one year low of $57.22 and a one year high of $84.38. The firm has a 50-day moving average of $79.31 and a two-hundred day moving average of $76.79. The firm has a market capitalization of $44.84 billion, a PE ratio of 14.41, a P/E/G ratio of 2.00 and a beta of 0.89.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.39 by $0.07. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. The business had revenue of $10.10 billion for the quarter, compared to the consensus estimate of $994.33 million. On average, equities research analysts anticipate that Sun Life Financial Inc. will post 5.77 earnings per share for the current year.

Sun Life Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Wednesday, August 26th were paid a C$0.96 dividend. The ex-dividend date of this dividend was Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 4.8%. Sun Life Financial's dividend payout ratio (DPR) is currently 64.02%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. TD Securities reiterated a "buy" rating on shares of Sun Life Financial in a report on Friday, August 7th. Argus raised their target price on shares of Sun Life Financial from $81.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday, September 3rd. Barclays restated an "underweight" rating on shares of Sun Life Financial in a research report on Wednesday, October 7th. Scotiabank restated a "sector perform" rating on shares of Sun Life Financial in a research report on Monday, August 10th. Finally, Wall Street Zen upgraded Sun Life Financial from a "sell" rating to a "hold" rating in a research report on Sunday, July 26th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given 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 an average rating of "Moderate Buy" and an average price target of $103.50.

Sun Life Financial Profile

Sun Life Financial Inc NYSE: SLF is a Canadian financial services company that provides insurance, wealth, and asset management solutions to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and savings products; investment solutions; and employee benefits.

Through its asset management businesses, Sun Life provides investment management and advisory services to institutional and retail clients. The company also offers workplace pension, group insurance, and employee wellness programs, helping employers support the financial security and health of their employees.

Founded in Montreal in 1865, Sun Life serves clients primarily in Canada, the United States, and several Asian markets, including Hong Kong, the Philippines, Indonesia, India, and Vietnam.

Want to see what other hedge funds are holding SLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.