Man Group plc Trims Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Man Group plc cut its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 34.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 610,711 shares of the financial services provider's stock after selling 315,986 shares during the period. Man Group plc owned about 0.10% of Sun Life Financial worth $36,241,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLF. Human Investing LLC purchased a new position in Sun Life Financial in the fourth quarter valued at $26,000. Asset Planning Inc purchased a new position in Sun Life Financial in the fourth quarter valued at $40,000. BankPlus Trust Department purchased a new position in Sun Life Financial in the fourth quarter valued at $40,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in Sun Life Financial in the fourth quarter valued at $45,000. Finally, GeoWealth Management LLC boosted its holdings in Sun Life Financial by 4,657.1% in the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock valued at $59,000 after purchasing an additional 978 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Stock Performance

NYSE SLF traded down $0.25 during trading on Friday, reaching $62.87. 3,796,173 shares of the company's stock were exchanged, compared to its average volume of 670,523. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $63.39. The stock has a market cap of $35.50 billion, a P/E ratio of 16.37, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90. The company has a 50 day moving average price of $57.70 and a two-hundred day moving average price of $58.24.

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 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.05. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. The business had revenue of $7.91 billion during the quarter, compared to the consensus estimate of $6.44 billion. During the same period in the previous year, the business earned $1.40 EPS. Research analysts forecast 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. Stockholders of record on Wednesday, May 28th will be issued a $0.6332 dividend. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.53 annualized dividend and a dividend yield of 4.03%. The ex-dividend date of this dividend is Wednesday, May 28th. Sun Life Financial's payout ratio is presently 62.09%.

Wall Street Analyst Weigh In

SLF has been the subject of a number of recent research reports. StockNews.com lowered Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Royal Bank of Canada lifted their price target on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $88.00.

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.