Meritage Portfolio Management Has $4.77 Million Holdings in Sun Life Financial Inc. (NYSE:SLF)

Meritage Portfolio Management trimmed its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,289 shares of the financial services provider’s stock after selling 3,708 shares during the quarter. Meritage Portfolio Management’s holdings in Sun Life Financial were worth $4,774,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SLF. CANADA LIFE ASSURANCE Co raised its holdings in Sun Life Financial by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock valued at $34,474,000 after buying an additional 23,235 shares in the last quarter. Cetera Investment Advisers raised its stake in shares of Sun Life Financial by 108.3% in the 1st quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock valued at $3,506,000 after acquiring an additional 33,401 shares in the last quarter. Twin Tree Management LP lifted its holdings in Sun Life Financial by 249.8% in the 1st quarter. Twin Tree Management LP now owns 274,119 shares of the financial services provider’s stock worth $14,961,000 after purchasing an additional 195,745 shares during the last quarter. Bessemer Group Inc. grew its holdings in Sun Life Financial by 845.9% during the first quarter. Bessemer Group Inc. now owns 20,478 shares of the financial services provider’s stock valued at $1,117,000 after purchasing an additional 18,313 shares during the last quarter. Finally, M&G Plc bought a new position in shares of Sun Life Financial in the second quarter valued at approximately $1,520,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

Shares of NYSE SLF traded down $0.37 during mid-day trading on Friday, hitting $59.23. The company had a trading volume of 430,723 shares, compared to its average volume of 479,747. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $59.81. The firm has a market cap of $37.32 billion, a P/E ratio of 13.19, a PEG ratio of 1.53 and a beta of 1.01. The business’s 50-day simple moving average is $56.82 and its 200-day simple moving average is $52.59.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a net margin of 7.32% and a return on equity of 17.44%. The firm had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.72 billion. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 4.85 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a $0.621 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s payout ratio is presently 52.34%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SLF. Barclays assumed coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company. StockNews.com raised Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Wednesday.

Sun Life Financial Profile

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.