Toronto Dominion Bank Has Cut Sun Life Financial (Put) (SLF) Holding by $13.79 Million as Stock Value Declined; Telemus Capital Decreased Its Verizon Communications (VZ) Stake by $1.58 Million

February 15, 2018 - By Richard Conner

Telemus Capital Llc decreased its stake in Verizon Communications Inc (VZ) by 75.91% based on its latest 2017Q3 regulatory filing with the SEC. Telemus Capital Llc sold 32,254 shares as the company’s stock declined 7.66% while stock markets rallied. The institutional investor held 10,235 shares of the telecommunications equipment company at the end of 2017Q3, valued at $507,000, down from 42,489 at the end of the previous reported quarter. Telemus Capital Llc who had been investing in Verizon Communications Inc for a number of months, seems to be less bullish one the $200.85 billion market cap company. The stock decreased 0.55% or $0.2699 during the last trading session, reaching $49.2401. About 8.47 million shares traded. Verizon Communications Inc. (NYSE:VZ) has declined 8.48% since February 15, 2017 and is downtrending. It has underperformed by 25.18% the S&P500.

Toronto Dominion Bank decreased its stake in Sun Life Financial Inc (Put) (SLF) by 55.6% based on its latest 2017Q3 regulatory filing with the SEC. Toronto Dominion Bank sold 353,500 shares as the company’s stock declined 12.84% while stock markets rallied. The institutional investor held 282,300 shares of the life insurance company at the end of 2017Q3, valued at $11.24M, down from 635,800 at the end of the previous reported quarter. Toronto Dominion Bank who had been investing in Sun Life Financial Inc (Put) for a number of months, seems to be less bullish one the $25.41 billion market cap company. The stock increased 2.01% or $0.83 during the last trading session, reaching $42.16. About 352,796 shares traded. Sun Life Financial Inc. (NYSE:SLF) has declined 1.22% since February 15, 2017 and is downtrending. It has underperformed by 17.92% the S&P500.

Among 11 analysts covering Sun Life Financial Inc. (NYSE:SLF), 5 have Buy rating, 0 Sell and 6 Hold. Therefore 45% are positive. Sun Life Financial Inc. had 24 analyst reports since August 6, 2015 according to SRatingsIntel. Credit Suisse upgraded the shares of SLF in report on Thursday, August 6 to “Outperform” rating. The stock has “Sector Perform” rating by RBC Capital Markets on Friday, February 17. RBC Capital Markets maintained it with “Outperform” rating and $52 target in Friday, November 6 report. The company was upgraded on Wednesday, December 23 by Argus Research. RBC Capital Markets upgraded Sun Life Financial Inc. (NYSE:SLF) on Wednesday, June 7 to “Outperform” rating. The company was downgraded on Thursday, November 5 by Macquarie Research. Morgan Stanley maintained the shares of SLF in report on Thursday, October 5 with “Equal-Weight” rating. The stock of Sun Life Financial Inc. (NYSE:SLF) has “Hold” rating given on Friday, December 23 by Argus Research. The rating was maintained by Morgan Stanley with “Equal-Weight” on Monday, November 13. The rating was upgraded by Bank of America to “Buy” on Monday, September 21.

Toronto Dominion Bank, which manages about $31.12B US Long portfolio, upped its stake in Brookfield Infra Partner Lpu (NYSE:BIP) by 2.56 million shares to 2.56M shares, valued at $110.61 million in 2017Q3, according to the filing. It also increased its holding in Applied Materials Inc (NASDAQ:AMAT) by 42,285 shares in the quarter, for a total of 438,746 shares, and has risen its stake in Wells Fargo & Co (NYSE:WFC).

Analysts await Sun Life Financial Inc. (NYSE:SLF) to report earnings on February, 21. They expect $0.81 EPS, down 8.99% or $0.08 from last year’s $0.89 per share. SLF’s profit will be $488.21 million for 13.01 P/E if the $0.81 EPS becomes a reality. After $0.83 actual EPS reported by Sun Life Financial Inc. for the previous quarter, Wall Street now forecasts -2.41% negative EPS growth.

Telemus Capital Llc, which manages about $2.42 billion and $857.31M US Long portfolio, upped its stake in Ishares Tr (CIU) by 4,155 shares to 131,115 shares, valued at $14.44M in 2017Q3, according to the filing. It also increased its holding in Merck & Co Inc (NYSE:MRK) by 5,840 shares in the quarter, for a total of 30,444 shares, and has risen its stake in New Residential Invt Corp (NYSE:NRZ).

Since August 28, 2017, it had 0 insider purchases, and 3 sales for $89,365 activity.

Among 28 analysts covering Verizon Communications Inc. (NYSE:VZ), 7 have Buy rating, 0 Sell and 21 Hold. Therefore 25% are positive. Verizon Communications Inc. had 74 analyst reports since July 22, 2015 according to SRatingsIntel. SunTrust maintained the shares of VZ in report on Wednesday, December 6 with “Hold” rating. The stock has “Perform” rating by Oppenheimer on Wednesday, July 20. KeyBanc Capital Markets maintained the shares of VZ in report on Tuesday, January 2 with “Sector Weight” rating. The rating was maintained by RBC Capital Markets on Friday, May 26 with “Hold”. The firm has “Hold” rating by Robert W. Baird given on Wednesday, January 24. RBC Capital Markets maintained Verizon Communications Inc. (NYSE:VZ) rating on Monday, January 25. RBC Capital Markets has “Outperform” rating and $50 target. The company was maintained on Wednesday, October 21 by Citigroup. RBC Capital Markets maintained the stock with “Hold” rating in Sunday, September 17 report. The firm earned “Hold” rating on Friday, July 7 by RBC Capital Markets. Nomura maintained the stock with “Buy” rating in Wednesday, January 24 report.

Investors sentiment is 0.88 in 2017 Q3. Its the same as in 2017Q2. It is without change, as 81 investors sold VZ shares while 696 reduced holdings. only 114 funds opened positions while 570 raised stakes. 2.53 billion shares or 1.44% more from 2.49 billion shares in 2017Q2 were reported. Gamco Investors Et Al invested in 195,778 shares or 0.06% of the stock. Lsv Asset stated it has 13.39 million shares. First Midwest Bankshares Division invested in 0.72% or 119,409 shares. Trustmark Bancorp Tru Department reported 0.57% in Verizon Communications Inc. (NYSE:VZ). Canandaigua Savings Bank Commerce owns 109,765 shares for 1.03% of their portfolio. Farr Miller And Washington Dc stated it has 0.28% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Family Firm has invested 0.09% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Meyer Handelman Co owns 869,493 shares. Needelman Asset Management Inc holds 1.95% or 15,999 shares in its portfolio. Palo Incorporated holds 2.55% or 97,710 shares. 9,218 were reported by Brave Asset Management. Bridges Inv Mgmt invested in 51,518 shares. Wright owns 16,391 shares. First Citizens Bancshares And holds 72,061 shares. S R Schill & Assocs owns 0.23% invested in Verizon Communications Inc. (NYSE:VZ) for 7,600 shares.

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