Meritage Portfolio Management Sells 5,488 Shares of Sun Life Financial Inc. (NYSE:SLF)

Meritage Portfolio Management decreased its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 6.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 76,801 shares of the financial services provider’s stock after selling 5,488 shares during the period. Meritage Portfolio Management’s holdings in Sun Life Financial were worth $4,557,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its position in shares of Sun Life Financial by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after purchasing an additional 654,404 shares in the last quarter. CIBC Asset Management Inc increased its stake in Sun Life Financial by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider’s stock valued at $377,311,000 after buying an additional 81,261 shares during the last quarter. National Bank of Canada FI lifted its position in Sun Life Financial by 28.2% during the 3rd quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock worth $338,621,000 after buying an additional 1,284,556 shares in the last quarter. FMR LLC lifted its position in Sun Life Financial by 5.2% during the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock worth $301,047,000 after buying an additional 257,178 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Sun Life Financial by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock worth $164,876,000 after buying an additional 34,072 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Sun Life Financial stock opened at $57.77 on Wednesday. The company’s 50-day moving average is $59.37 and its 200-day moving average is $56.77. The firm has a market capitalization of $36.28 billion, a PE ratio of 12.87, a P/E/G ratio of 1.57 and a beta of 1.03. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com raised Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Monday, January 27th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sun Life Financial presently has a consensus rating of “Buy”.

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.