Symphony Financial Ltd. Co. Sells 225 Shares of Sun Life Financial Inc. (NYSE:SLF)

Symphony Financial Ltd. Co. decreased its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.3% in the 3rd quarter, Holdings Channel.com reports. The firm owned 67,864 shares of the financial services provider’s stock after selling 225 shares during the quarter. Symphony Financial Ltd. Co.’s holdings in Sun Life Financial were worth $3,924,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Signaturefd LLC lifted its stake in Sun Life Financial by 5.6% in the 3rd quarter. Signaturefd LLC now owns 25,319 shares of the financial services provider’s stock valued at $1,469,000 after purchasing an additional 1,348 shares during the last quarter. Blue Trust Inc. lifted its stake in Sun Life Financial by 123.7% in the 3rd quarter. Blue Trust Inc. now owns 7,661 shares of the financial services provider’s stock valued at $444,000 after purchasing an additional 4,237 shares during the last quarter. Well Done LLC bought a new position in Sun Life Financial in the 3rd quarter valued at approximately $216,000. Heathbridge Capital Management Ltd. bought a new position in Sun Life Financial in the 3rd quarter valued at approximately $244,000. Finally, Creative Planning lifted its stake in Sun Life Financial by 1.2% in the 3rd quarter. Creative Planning now owns 48,558 shares of the financial services provider’s stock valued at $2,817,000 after purchasing an additional 590 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Down 0.3 %

NYSE SLF traded down $0.18 on Tuesday, hitting $56.74. The company’s stock had a trading volume of 126,540 shares, compared to its average volume of 664,151. Sun Life Financial Inc. has a 1-year low of $44.57 and a 1-year high of $58.51. The company’s 50-day moving average is $55.71 and its 200 day moving average is $52.06. The firm has a market cap of $32.71 billion, a PE ratio of 14.57, a PEG ratio of 1.46 and a beta of 1.00.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.07. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. On average, equities analysts expect that Sun Life Financial Inc. will post 4.88 EPS for the current year.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were given a $0.587 dividend. This represents a $2.35 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is currently 60.57%.

Wall Street Analyst Weigh In

Separately, Barclays began coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company.

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.