Sun Life Financial Inc. (NYSE:SLF) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd trimmed its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.5% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 164,228 shares of the financial services provider’s stock after selling 7,755 shares during the period. AustralianSuper Pty Ltd’s holdings in Sun Life Financial were worth $9,525,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Toronto Dominion Bank boosted its holdings in Sun Life Financial by 42.8% in the first quarter. Toronto Dominion Bank now owns 6,642,564 shares of the financial services provider’s stock valued at $362,551,000 after purchasing an additional 1,991,360 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Sun Life Financial by 13.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock valued at $421,167,000 after buying an additional 1,049,244 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Sun Life Financial by 16.5% during the 2nd quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock worth $313,976,000 after buying an additional 905,679 shares during the last quarter. Intact Investment Management Inc. increased its holdings in shares of Sun Life Financial by 423.9% in the 2nd quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock valued at $49,909,000 after acquiring an additional 823,670 shares during the last quarter. Finally, AGF Management Ltd. raised its holdings in Sun Life Financial by 46.5% during the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock worth $135,816,000 after purchasing an additional 797,901 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Barclays started coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company.

Sun Life Financial Stock Down 2.3 %

Shares of NYSE SLF traded down $1.28 during mid-day trading on Thursday, hitting $55.27. 62,946 shares of the company were exchanged, compared to its average volume of 652,162. The firm has a market cap of $32.04 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 1.44 and a beta of 1.00. The stock has a 50 day simple moving average of $56.37 and a 200-day simple moving average of $52.27. Sun Life Financial Inc. has a 1-year low of $45.20 and a 1-year high of $58.51.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The company had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.72 billion. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. Analysts anticipate that Sun Life Financial Inc. will post 4.88 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were paid a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.85%.

About Sun Life Financial

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.