JPMorgan Chase & Co. Has $147.67 Million Stake in Sun Life Financial Inc. (NYSE:SLF)

JPMorgan Chase & Co. reduced its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 12.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,488,560 shares of the financial services provider’s stock after selling 353,152 shares during the quarter. JPMorgan Chase & Co.’s holdings in Sun Life Financial were worth $147,671,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

Sun Life Financial Stock Up 1.5 %

Shares of Sun Life Financial stock opened at $58.11 on Wednesday. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $62.85. The business has a fifty day simple moving average of $56.64 and a 200 day simple moving average of $58.00. The stock has a market cap of $33.17 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 1.52 and a beta of 1.04.

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

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Wednesday, February 26th were paid a dividend of $0.5876 per share. This represents a $2.35 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend was Wednesday, February 26th. Sun Life Financial’s 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.