Argent Trust Co Sells 330 Shares of Sun Life Financial Inc. (NYSE:SLF)

Argent Trust Co cut its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,457 shares of the financial services provider’s stock after selling 330 shares during the period. Argent Trust Co’s holdings in Sun Life Financial were worth $324,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

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

Sun Life Financial Price Performance

SLF opened at $55.39 on Friday. The company’s 50 day simple moving average is $56.07 and its 200-day simple moving average is $57.88. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $62.85. The stock has a market capitalization of $31.62 billion, a P/E ratio of 14.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.87.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results 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%. As a group, analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th were issued a dividend of $0.5876 per share. The ex-dividend date was Wednesday, February 26th. This represents a $2.35 annualized dividend and a yield of 4.24%. Sun Life Financial’s dividend payout ratio is currently 60.16%.

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.