USS Investment Management Ltd Sells 17,982 Shares of Sun Life Financial Inc. (NYSE:SLF)

USS Investment Management Ltd lowered its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 11.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 138,227 shares of the financial services provider's stock after selling 17,982 shares during the period. USS Investment Management Ltd's holdings in Sun Life Financial were worth $8,231,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Human Investing LLC bought a new position in Sun Life Financial during the 4th quarter worth $26,000. Asset Planning Inc bought a new stake in shares of Sun Life Financial in the 4th quarter valued at about $40,000. BankPlus Trust Department acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at about $40,000. GeoWealth Management LLC raised its position in shares of Sun Life Financial by 4,657.1% during the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock worth $59,000 after acquiring an additional 978 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its position in shares of Sun Life Financial by 432.0% during the fourth quarter. JFS Wealth Advisors LLC now owns 1,032 shares of the financial services provider's stock worth $61,000 after acquiring an additional 838 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Royal Bank of Canada boosted their price target on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Scotiabank reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. Finally, Wall Street Zen lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $88.00.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock traded up $0.81 on Tuesday, reaching $64.44. 143,715 shares of the company's stock were exchanged, compared to its average volume of 664,026. The company has a market capitalization of $36.39 billion, a P/E ratio of 16.79, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $64.47. The firm's 50-day moving average is $58.62 and its two-hundred day moving average is $58.49.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.22 by $0.05. The company had revenue of $7.91 billion for the quarter, compared to the consensus estimate of $6.44 billion. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. During the same quarter in the previous year, the company earned $1.40 EPS. On average, analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Wednesday, May 28th will be issued a dividend of $0.6332 per share. The ex-dividend date is Wednesday, May 28th. This represents a $2.53 annualized dividend and a dividend yield of 3.93%. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio is currently 62.09%.

Sun Life Financial 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.