Sun Life Financial Inc. (NYSE:SLF) Holdings Reduced by King Luther Capital Management Corp

King Luther Capital Management Corp cut its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 25.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 6,884 shares of the financial services provider’s stock after selling 2,386 shares during the period. King Luther Capital Management Corp’s holdings in Sun Life Financial were worth $399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. GAMMA Investing LLC boosted its position in Sun Life Financial by 6,244.4% during the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 562 shares during the period. Assetmark Inc. raised its stake in shares of Sun Life Financial by 2,747.4% during the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 522 shares in the last quarter. Addison Advisors LLC lifted its holdings in Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 361 shares during the period. Ridgewood Investments LLC bought a new position in Sun Life Financial in the 2nd quarter valued at about $39,000. Finally, Clean Yield Group acquired a new position in Sun Life Financial during the 3rd quarter valued at about $39,000. 52.26% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SLF. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Barclays initiated coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock.

Sun Life Financial Trading Down 0.3 %

Shares of NYSE SLF opened at $61.18 on Friday. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $61.86. The firm has a 50-day moving average of $57.89 and a two-hundred day moving average of $53.19. The company has a market capitalization of $35.22 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.58 and a beta of 1.01.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.06%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 52.34%.

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.