TD Asset Management Inc. lowered its stake in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 4.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,260,182 shares of the financial services provider’s stock after selling 837,931 shares during the period. Sun Life Financial accounts for 1.3% of TD Asset Management Inc.’s investment portfolio, making the stock its 14th largest position. TD Asset Management Inc. owned 3.42% of Sun Life Financial worth $840,795,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Asset Planning Services Ltd. acquired a new stake in shares of Sun Life Financial in the 2nd quarter valued at about $27,000. Bremer Bank National Association bought a new position in shares of Sun Life Financial in the first quarter valued at $34,000. Buffington Mohr McNeal bought a new position in shares of Sun Life Financial in the first quarter valued at $50,000. Avestar Capital LLC increased its holdings in shares of Sun Life Financial by 1,058.6% in the first quarter. Avestar Capital LLC now owns 1,344 shares of the financial services provider’s stock valued at $50,000 after buying an additional 1,228 shares in the last quarter. Finally, Zions Bancorporation N.A. bought a new position in shares of Sun Life Financial in the first quarter valued at $53,000. 40.53% of the stock is currently owned by institutional investors.

Shares of NYSE SLF traded up $0.27 during mid-day trading on Tuesday, hitting $39.82. 30,141 shares of the stock were exchanged, compared to its average volume of 576,951. The firm has a market cap of $23.56 billion, a P/E ratio of 10.67 and a beta of 0.89. The firm’s fifty day moving average price is $41.33. Sun Life Financial Inc has a twelve month low of $31.49 and a twelve month high of $42.59.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Wednesday, July 31st. The financial services provider reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.30. Sun Life Financial had a net margin of 6.83% and a return on equity of 13.37%. The business had revenue of $7.59 billion for the quarter, compared to analysts’ expectations of $6.93 billion. During the same period in the prior year, the firm earned $1.20 earnings per share. On average, research analysts anticipate that Sun Life Financial Inc will post 3.81 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Wednesday, August 28th will be paid a $0.401 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.38. This represents a $1.60 annualized dividend and a yield of 4.03%. The ex-dividend date of this dividend is Tuesday, August 27th. Sun Life Financial’s payout ratio is presently 41.87%.

Several research analysts have issued reports on the company. Argus upped their price target on Sun Life Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 1st. Evercore ISI reiterated an “outperform” rating on shares of Sun Life Financial in a report on Monday, July 22nd. ValuEngine cut shares of Sun Life Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Barclays cut shares of Sun Life Financial from an “overweight” rating to an “equal weight” rating in a report on Wednesday, June 12th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $58.00 price objective on shares of Sun Life Financial in a report on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company’s stock. Sun Life Financial has an average rating of “Hold” and an average price target of $51.50.

Sun Life Financial 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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