PCJ Investment Counsel Ltd. reduced its holdings in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 43.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 437,139 shares of the financial services provider’s stock after selling 338,640 shares during the quarter. Sun Life Financial accounts for about 1.4% of PCJ Investment Counsel Ltd.’s investment portfolio, making the stock its 24th largest holding. PCJ Investment Counsel Ltd. owned about 0.07% of Sun Life Financial worth $17,366,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Sun Life Financial by 15.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,804 shares of the financial services provider’s stock worth $394,000 after buying an additional 1,330 shares during the period. Vident Investment Advisory LLC boosted its position in shares of Sun Life Financial by 1.7% during the second quarter. Vident Investment Advisory LLC now owns 83,137 shares of the financial services provider’s stock worth $3,344,000 after buying an additional 1,365 shares during the period. Moody Aldrich Partners LLC acquired a new position in shares of Sun Life Financial during the second quarter worth about $68,346,000. Comerica Bank boosted its position in shares of Sun Life Financial by 4.2% during the third quarter. Comerica Bank now owns 43,980 shares of the financial services provider’s stock worth $1,648,000 after buying an additional 1,771 shares during the period. Finally, Todd Asset Management LLC boosted its position in shares of Sun Life Financial by 0.5% during the second quarter. Todd Asset Management LLC now owns 372,156 shares of the financial services provider’s stock worth $14,939,000 after buying an additional 1,788 shares during the period. Institutional investors own 40.99% of the company’s stock.

Shares of NYSE SLF traded down $1.08 during trading hours on Thursday, reaching $34.90. 9,475 shares of the stock were exchanged, compared to its average volume of 418,290. Sun Life Financial Inc has a 52 week low of $35.71 and a 52 week high of $44.50. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.20. The firm has a market cap of $21.71 billion, a P/E ratio of 10.93 and a beta of 0.82.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, November 7th. The financial services provider reported $0.92 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.03. Sun Life Financial had a return on equity of 13.74% and a net margin of 8.15%. The firm had revenue of $4.59 billion for the quarter. Analysts forecast that Sun Life Financial Inc will post 3.69 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Shareholders of record on Wednesday, November 28th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 4.36%. Sun Life Financial’s payout ratio is presently 47.50%.

Several research analysts have recently weighed in on SLF shares. Zacks Investment Research raised Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Monday, September 3rd. Canaccord Genuity reaffirmed an “average” rating and set a $53.00 price objective on shares of Sun Life Financial in a research report on Friday, November 9th. Desjardins reaffirmed a “buy” rating on shares of Sun Life Financial in a research report on Tuesday, October 16th. Finally, Barclays reaffirmed a “buy” rating on shares of Sun Life Financial in a research report on Friday, November 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $54.00.

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About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.

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

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