Mackenzie Financial Corp Sells 357,140 Shares of Sun Life Financial Inc. (NYSE:SLF)

Mackenzie Financial Corp trimmed its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,086,704 shares of the financial services provider's stock after selling 357,140 shares during the quarter. Sun Life Financial accounts for 1.1% of Mackenzie Financial Corp's portfolio, making the stock its 17th largest holding. Mackenzie Financial Corp owned approximately 2.41% of Sun Life Financial worth $730,926,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Money Concepts Capital Corp acquired a new stake in Sun Life Financial during the fourth quarter worth about $26,000. Achmea Investment Management B.V. bought a new stake in shares of Sun Life Financial during the first quarter valued at approximately $32,000. ST Germain D J Co. Inc. acquired a new position in shares of Sun Life Financial in the second quarter valued at $34,000. IFP Advisors Inc boosted its stake in Sun Life Financial by 166.9% during the second quarter. IFP Advisors Inc now owns 678 shares of the financial services provider's stock worth $35,000 after buying an additional 424 shares in the last quarter. Finally, Legacy Financial Group LLC acquired a new stake in Sun Life Financial during the third quarter worth $40,000. Institutional investors and hedge funds own 52.26% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on shares of Sun Life Financial in a report on Thursday, February 22nd. They set a "buy" rating for the company.

Sun Life Financial Price Performance

Shares of SLF traded down $0.21 during mid-day trading on Monday, reaching $50.74. The company had a trading volume of 337,487 shares, compared to its average volume of 624,730. The company's 50-day moving average is $53.73 and its 200-day moving average is $51.19. The company has a market capitalization of $29.55 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.26 and a beta of 1.01. Sun Life Financial Inc. has a twelve month low of $44.57 and a twelve month high of $55.46.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.17 by $0.06. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. The company had revenue of $13.73 billion during the quarter. As a group, equities analysts expect that Sun Life Financial Inc. will post 5.07 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were issued a dividend of $0.581 per share. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, February 27th. This represents a $2.32 annualized dividend and a dividend yield of 4.58%. Sun Life Financial's dividend payout ratio (DPR) is presently 59.79%.

About Sun Life Financial

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.