TD Waterhouse Canada Inc. Sells 22,099 Shares of Sun Life Financial Inc. $SLF

Key Points

• TD Waterhouse Canada reduced its Sun Life Financial stake by 22,099 shares, or 0.4%, but still held 5.51 million shares valued at approximately $433.8 million. Institutional investors collectively own 52.26% of the company.
• Sun Life shares opened at $80.73, up 1.6%, while the company reported quarterly EPS of $1.46, beating consensus estimates of $1.39. Analysts’ average rating is “Moderate Buy,” with an average price target of $98.67.
• Sun Life declared a quarterly dividend of $0.96 per share, equivalent to $3.84 annually and a 4.8% yield. The company’s latest results included $10.10 billion in revenue and a 17.96% return on equity.

TD Waterhouse Canada Inc. decreased its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 0.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,506,035 shares of the financial services provider's stock after selling 22,099 shares during the period. Sun Life Financial comprises approximately 1.2% of TD Waterhouse Canada Inc.'s holdings, making the stock its 24th largest holding. TD Waterhouse Canada Inc. owned approximately 0.99% of Sun Life Financial worth $433,832,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SLF. Louisbourg Investments Inc. increased its stake in Sun Life Financial by 3.0% in the 1st quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider's stock worth $319,000 after buying an additional 150 shares during the period. Candriam S.C.A. increased its position in shares of Sun Life Financial by 1.8% during the first quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider's stock worth $612,000 after acquiring an additional 177 shares during the period. HB Wealth Management LLC raised its stake in shares of Sun Life Financial by 4.7% during the first quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider's stock valued at $260,000 after acquiring an additional 187 shares in the last quarter. Sei Investments Co. raised its stake in shares of Sun Life Financial by 3.5% during the first quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider's stock valued at $362,000 after acquiring an additional 196 shares in the last quarter. Finally, Cumberland Partners Ltd boosted its holdings in shares of Sun Life Financial by 3.2% in the first quarter. Cumberland Partners Ltd now owns 6,678 shares of the financial services provider's stock valued at $418,000 after purchasing an additional 209 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Up 1.6%

Shares of Sun Life Financial stock opened at $80.73 on Friday. The company has a market cap of $44.94 billion, a P/E ratio of 18.87, a PEG ratio of 1.98 and a beta of 0.87. The firm's 50 day moving average price is $80.45 and its 200-day moving average price is $73.07. Sun Life Financial Inc. has a 52-week low of $57.22 and a 52-week high of $84.38.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share for the quarter, beating 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 company had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $994.33 million. As a group, equities research analysts forecast that Sun Life Financial Inc. will post 5.72 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Sun Life Financial in a report on Friday, May 8th. Weiss Ratings upgraded Sun Life Financial from a "buy (b+)" rating to a "buy (a-)" rating in a report on Monday. TD Securities reissued a "buy" rating on shares of Sun Life Financial in a research report on Friday, August 7th. Royal Bank Of Canada raised their price target on Sun Life Financial from $98.00 to $119.00 and gave the company a "sector perform" rating in a research note on Monday, August 10th. Finally, UBS Group restated a "neutral" rating on shares of Sun Life Financial in a report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $98.67.

Sun Life Financial Profile

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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