Axa S.A. Has $8.49 Million Holdings in Sun Life Financial Inc. (NYSE:SLF)

Axa S.A. trimmed its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 16.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 173,254 shares of the financial services provider’s stock after selling 33,505 shares during the period. Axa S.A.’s holdings in Sun Life Financial were worth $8,488,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of SLF. Toronto Dominion Bank boosted its stake in Sun Life Financial by 42.8% during the first quarter. Toronto Dominion Bank now owns 6,642,564 shares of the financial services provider’s stock worth $362,551,000 after acquiring an additional 1,991,360 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Sun Life Financial by 16.5% during the 2nd quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock worth $313,976,000 after purchasing an additional 905,679 shares in the last quarter. Intact Investment Management Inc. grew its stake in shares of Sun Life Financial by 423.9% in the 2nd quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock valued at $49,909,000 after buying an additional 823,670 shares during the period. AGF Management Ltd. grew its stake in shares of Sun Life Financial by 46.5% in the 2nd quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock valued at $135,816,000 after buying an additional 797,901 shares during the period. Finally, 1832 Asset Management L.P. increased its position in Sun Life Financial by 7.4% in the 4th quarter. 1832 Asset Management L.P. now owns 9,725,626 shares of the financial services provider’s stock valued at $504,371,000 after buying an additional 673,966 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

NYSE:SLF opened at $57.82 on Friday. Sun Life Financial Inc. has a one year low of $44.57 and a one year high of $58.49. The company has a market cap of $33.37 billion, a PE ratio of 14.79, a PEG ratio of 1.48 and a beta of 1.00. The firm has a 50-day moving average of $52.91 and a 200-day moving average of $51.75.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. The firm had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.72 billion. On average, equities research analysts expect that Sun Life Financial Inc. will post 4.86 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were paid a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a yield of 4.06%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is presently 60.10%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SLF shares. Barclays began coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. Argus raised shares of Sun Life Financial to a “strong-buy” rating in a research report on Monday, June 3rd.

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.