Russell Investments Group Ltd. Reduces Stock Position in Sun Life Financial Inc (NYSE:SLF)

Russell Investments Group Ltd. lowered its holdings in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 87.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 129,392 shares of the financial services provider’s stock after selling 942,442 shares during the quarter. Russell Investments Group Ltd.’s holdings in Sun Life Financial were worth $5,907,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. OLD National Bancorp IN increased its position in Sun Life Financial by 7.7% during the 3rd quarter. OLD National Bancorp IN now owns 7,819 shares of the financial services provider’s stock valued at $350,000 after buying an additional 559 shares in the last quarter. AE Wealth Management LLC increased its position in Sun Life Financial by 11.5% during the 4th quarter. AE Wealth Management LLC now owns 6,178 shares of the financial services provider’s stock valued at $282,000 after buying an additional 639 shares in the last quarter. Savior LLC acquired a new position in Sun Life Financial during the 4th quarter valued at about $31,000. Parallel Advisors LLC increased its position in Sun Life Financial by 86.8% during the 3rd quarter. Parallel Advisors LLC now owns 1,545 shares of the financial services provider’s stock valued at $69,000 after buying an additional 718 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Sun Life Financial by 3.7% during the 3rd quarter. Envestnet Asset Management Inc. now owns 24,063 shares of the financial services provider’s stock valued at $1,078,000 after buying an additional 869 shares in the last quarter. Institutional investors own 42.17% of the company’s stock.

Sun Life Financial stock traded up $0.66 during trading hours on Friday, hitting $49.84. 27,643 shares of the stock traded hands, compared to its average volume of 432,221. The firm’s 50 day moving average price is $47.46 and its 200-day moving average price is $44.53. The stock has a market capitalization of $28.40 billion, a price-to-earnings ratio of 15.92, a P/E/G ratio of 1.30 and a beta of 0.81. Sun Life Financial Inc has a 1 year low of $34.78 and a 1 year high of $49.98.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, February 12th. The financial services provider reported $1.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.98 by $0.36. The business had revenue of $8.53 billion for the quarter. Sun Life Financial had a return on equity of 13.20% and a net margin of 6.43%. The firm’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.19 EPS. Sell-side analysts expect that Sun Life Financial Inc will post 3.86 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Sunday, March 1st will be paid a $0.416 dividend. The ex-dividend date is Thursday, February 27th. This represents a $1.66 dividend on an annualized basis and a dividend yield of 3.34%. Sun Life Financial’s payout ratio is 44.53%.

Several research analysts recently issued reports on the company. Canaccord Genuity upped their target price on Sun Life Financial from $56.00 to $58.00 in a research report on Monday, October 28th. Barclays upped their target price on Sun Life Financial from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. CIBC upgraded Sun Life Financial from an “underperform” rating to a “neutral” rating in a research note on Friday. Credit Suisse Group began coverage on Sun Life Financial in a research note on Friday, February 7th. They set an “outperform” rating and a $71.00 price target on the stock. Finally, TD Securities reiterated a “buy” rating and set a $72.00 price target on shares of Sun Life Financial in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $59.90.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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