Sun Life Financial Inc. (NYSE:SLF) Stock Position Lessened by Forsta AP Fonden

Forsta AP Fonden decreased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 287,300 shares of the financial services provider’s stock after selling 2,600 shares during the quarter. Forsta AP Fonden’s holdings in Sun Life Financial were worth $16,684,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. CANADA LIFE ASSURANCE Co boosted its stake in Sun Life Financial by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock valued at $34,474,000 after buying an additional 23,235 shares in the last quarter. Cetera Investment Advisers boosted its stake in Sun Life Financial by 108.3% during the first quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock valued at $3,506,000 after buying an additional 33,401 shares in the last quarter. Twin Tree Management LP boosted its stake in Sun Life Financial by 249.8% during the first quarter. Twin Tree Management LP now owns 274,119 shares of the financial services provider’s stock valued at $14,961,000 after buying an additional 195,745 shares in the last quarter. Bessemer Group Inc. boosted its stake in Sun Life Financial by 845.9% during the first quarter. Bessemer Group Inc. now owns 20,478 shares of the financial services provider’s stock valued at $1,117,000 after buying an additional 18,313 shares in the last quarter. Finally, M&G Plc bought a new position in Sun Life Financial during the second quarter valued at about $1,520,000. Institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Sun Life Financial Stock Down 0.6 %

NYSE:SLF opened at $56.40 on Friday. Sun Life Financial Inc. has a 1-year low of $44.57 and a 1-year high of $58.51. The firm has a market capitalization of $32.70 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 1.45 and a beta of 1.00. The stock has a fifty day simple moving average of $56.13 and a 200 day simple moving average of $52.16.

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

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.587 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $2.35 dividend on an annualized basis and a yield of 4.16%. Sun Life Financial’s payout ratio is presently 59.85%.

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.