Montrusco Bolton Investments Inc. Has $71.36 Million Stake in Sun Life Financial Inc (SLF)

Montrusco Bolton Investments Inc. Has $71.36 Million Stake in Sun Life Financial Inc (SLF)

Montrusco Bolton Investments Inc. lowered its stake in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 14.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,796,398 shares of the financial services provider’s stock after selling 296,591 shares during the quarter. Sun Life Financial comprises about 4.4% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 7th biggest holding. Montrusco Bolton Investments Inc. owned about 0.30% of Sun Life Financial worth $71,364,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLF. Toronto Dominion Bank lifted its position in shares of Sun Life Financial by 36.9% during the second quarter. Toronto Dominion Bank now owns 9,075,777 shares of the financial services provider’s stock worth $367,220,000 after purchasing an additional 2,447,503 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Sun Life Financial by 18.2% during the first quarter. The Manufacturers Life Insurance Company now owns 6,379,522 shares of the financial services provider’s stock worth $262,326,000 after purchasing an additional 983,857 shares in the last quarter. CIBC World Markets Inc. lifted its position in shares of Sun Life Financial by 9.0% during the first quarter. CIBC World Markets Inc. now owns 9,542,599 shares of the financial services provider’s stock worth $392,392,000 after purchasing an additional 784,193 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Sun Life Financial by 179.1% during the second quarter. Janus Henderson Group PLC now owns 519,037 shares of the financial services provider’s stock worth $20,848,000 after purchasing an additional 333,038 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Sun Life Financial by 30.8% during the second quarter. Bank of America Corp DE now owns 980,983 shares of the financial services provider’s stock worth $39,376,000 after purchasing an additional 230,842 shares in the last quarter. 41.08% of the stock is currently owned by institutional investors.

Several brokerages have recently issued reports on SLF. Zacks Investment Research raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Evercore ISI began coverage on shares of Sun Life Financial in a research report on Tuesday, July 10th. They set an “outperform” rating on the stock. Finally, ValuEngine cut shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Tuesday, August 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $54.00.

SLF stock opened at $39.22 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 4.06 and a current ratio of 4.06. Sun Life Financial Inc has a fifty-two week low of $38.10 and a fifty-two week high of $44.50. The company has a market cap of $24.03 billion, a P/E ratio of 12.26 and a beta of 0.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, August 8th. The financial services provider reported $1.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.88 by $0.32. Sun Life Financial had a net margin of 9.24% and a return on equity of 13.44%. The firm had revenue of $5.29 billion for the quarter. During the same quarter in the previous year, the company posted $1.12 earnings per share. Analysts anticipate that Sun Life Financial Inc will post 3.57 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Wednesday, August 29th were paid a $0.365 dividend. The ex-dividend date of this dividend was Tuesday, August 28th. This represents a $1.46 annualized dividend and a yield of 3.72%. Sun Life Financial’s dividend payout ratio is currently 45.63%.

Sun Life Financial Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.

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