Commonwealth Equity Services LLC Trims Position in Sun Life Financial Inc. (NYSE:SLF)

Commonwealth Equity Services LLC reduced its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 59,418 shares of the financial services provider’s stock after selling 702 shares during the period. Commonwealth Equity Services LLC’s holdings in Sun Life Financial were worth $3,526,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Human Investing LLC acquired a new stake in shares of Sun Life Financial during the fourth quarter worth $26,000. Asset Planning Inc acquired a new stake in Sun Life Financial in the 4th quarter worth about $40,000. BankPlus Trust Department acquired a new stake in Sun Life Financial in the 4th quarter worth about $40,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Sun Life Financial in the 4th quarter valued at about $45,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Sun Life Financial during the 3rd quarter valued at about $51,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Sun Life Financial Stock Up 2.1 %

Sun Life Financial stock opened at $57.39 on Tuesday. The firm has a fifty day moving average of $56.80 and a 200-day moving average of $57.92. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $62.85. The firm has a market capitalization of $35.87 billion, a P/E ratio of 14.94, a PEG ratio of 1.52 and a beta of 1.04.

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

Sun Life Financial Cuts Dividend

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

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.