TD Asset Management Inc. Sells 9,202 Shares of Sun Life Financial Inc. (NYSE:SLF)

TD Asset Management Inc. decreased its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,725,658 shares of the financial services provider’s stock after selling 9,202 shares during the quarter. Sun Life Financial makes up 0.8% of TD Asset Management Inc.’s investment portfolio, making the stock its 26th largest position. TD Asset Management Inc.’s holdings in Sun Life Financial were worth $933,239,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SLF. Intact Investment Management Inc. increased its holdings in Sun Life Financial by 295.5% during the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider’s stock valued at $113,453,000 after purchasing an additional 1,427,815 shares during the period. National Bank of Canada FI increased its stake in shares of Sun Life Financial by 28.2% during the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock valued at $338,621,000 after buying an additional 1,284,556 shares during the period. CIBC Asset Management Inc raised its holdings in shares of Sun Life Financial by 10.8% during the fourth quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock valued at $427,712,000 after acquiring an additional 703,391 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Sun Life Financial by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after acquiring an additional 654,404 shares during the period. Finally, FMR LLC lifted its stake in Sun Life Financial by 5.2% in the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock worth $301,047,000 after acquiring an additional 257,178 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Stock Up 2.1 %

Shares of SLF stock opened at $57.39 on Tuesday. The business’s fifty day moving average is $56.80 and its 200 day moving average is $57.92. The stock has a market cap of $35.87 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.52 and a beta of 1.04. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. Equities research analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.5876 per share. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 annualized dividend and a dividend yield of 4.10%. Sun Life Financial’s payout ratio is 60.16%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Cormark raised shares of Sun Life Financial from a “hold” rating to a “moderate buy” rating in a research report on Thursday, February 13th. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Finally, StockNews.com lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

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.