JARISLOWSKY FRASER Ltd Sells 35,284 Shares of Sun Life Financial Inc. (NYSE:SLF)

JARISLOWSKY FRASER Ltd trimmed its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 15.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,148 shares of the financial services provider's stock after selling 35,284 shares during the quarter. JARISLOWSKY FRASER Ltd's holdings in Sun Life Financial were worth $11,106,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLF. Human Investing LLC acquired a new stake in shares of Sun Life Financial during the 4th quarter worth $26,000. Asset Planning Inc acquired a new stake in shares of Sun Life Financial during the 4th quarter worth $40,000. BankPlus Trust Department acquired a new stake in shares of Sun Life Financial during the 4th quarter worth $40,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Sun Life Financial during the 4th quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Sun Life Financial during the 3rd quarter worth $51,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

NYSE:SLF traded down $0.29 during trading hours on Wednesday, hitting $62.14. The company's stock had a trading volume of 45,318 shares, compared to its average volume of 659,066. The company has a market capitalization of $35.26 billion, a P/E ratio of 16.18, a PEG ratio of 1.52 and a beta of 0.90. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $63.34. The stock has a fifty day simple moving average of $57.21 and a 200-day simple moving average of $58.11.

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

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be given a $0.6332 dividend. The ex-dividend date is Wednesday, May 28th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a yield of 4.08%. Sun Life Financial's dividend payout ratio (DPR) is currently 62.09%.

Analyst Upgrades and Downgrades

SLF has been the topic of several analyst reports. StockNews.com lowered Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Royal Bank of Canada raised their price objective on Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research note on Monday. National Bank Financial raised Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, January 15th. Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a research note on Thursday, May 1st. Finally, Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $88.00.

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.