Hsbc Holdings PLC Sells 271,906 Shares of Sun Life Financial Inc. (NYSE:SLF)

Hsbc Holdings PLC lowered its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 11.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,091,227 shares of the financial services provider's stock after selling 271,906 shares during the period. Hsbc Holdings PLC owned 0.33% of Sun Life Financial worth $124,131,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SLF. Norges Bank bought a new position in shares of Sun Life Financial in the fourth quarter worth approximately $382,176,000. Intact Investment Management Inc. increased its position in shares of Sun Life Financial by 295.5% in the fourth quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider's stock valued at $113,453,000 after acquiring an additional 1,427,815 shares during the period. Wellington Management Group LLP increased its holdings in Sun Life Financial by 2,071.4% during the 4th quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock valued at $80,160,000 after purchasing an additional 1,288,545 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Sun Life Financial by 71.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 2,867,939 shares of the financial services provider's stock valued at $170,068,000 after buying an additional 1,200,000 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Sun Life Financial by 30.6% in the 4th quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider's stock worth $210,080,000 after purchasing an additional 812,689 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Price Performance

Sun Life Financial stock traded up $0.45 during mid-day trading on Monday, reaching $58.78. The stock had a trading volume of 60,629 shares, compared to its average volume of 681,504. The company has a 50-day moving average price of $56.00 and a two-hundred day moving average price of $57.84. The company has a market capitalization of $33.36 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.52 and a beta of 0.87. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $62.85.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. On average, equities research analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.5876 per share. This represents a $2.35 dividend on an annualized basis and a yield of 4.00%. The ex-dividend date of this dividend was Wednesday, February 26th. Sun Life Financial's dividend payout ratio (DPR) is currently 60.16%.

Analysts Set New Price Targets

SLF has been the subject of several research reports. StockNews.com lowered Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research report on Wednesday, January 15th. Finally, Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

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.