King Luther Capital Management Corp Sells 2,357 Shares of Sun Life Financial Inc. (NYSE:SLF)

King Luther Capital Management Corp trimmed its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 20.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,270 shares of the financial services provider’s stock after selling 2,357 shares during the quarter. King Luther Capital Management Corp’s holdings in Sun Life Financial were worth $454,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. CANADA LIFE ASSURANCE Co grew its holdings in shares of 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 worth $34,474,000 after purchasing an additional 23,235 shares in the last quarter. Prudential PLC increased its holdings in shares of Sun Life Financial by 15.9% in the 4th quarter. Prudential PLC now owns 349,027 shares of the financial services provider’s stock worth $18,102,000 after buying an additional 47,755 shares during the last quarter. UBS Group AG raised its position in shares of Sun Life Financial by 36.8% during the 4th quarter. UBS Group AG now owns 696,047 shares of the financial services provider’s stock valued at $36,097,000 after buying an additional 187,064 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Sun Life Financial by 20.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,620,801 shares of the financial services provider’s stock worth $84,055,000 after acquiring an additional 275,334 shares during the last quarter. Finally, Cetera Investment Advisers grew its position in Sun Life Financial by 108.3% in the first quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock worth $3,506,000 after acquiring an additional 33,401 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Stock Performance

Shares of SLF opened at $56.59 on Monday. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $57.20. The firm has a 50 day moving average price of $52.18 and a 200-day moving average price of $51.61. The firm has a market cap of $32.81 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.45 and a beta of 1.00.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly 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. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. As a group, equities research analysts predict that Sun Life Financial Inc. will post 4.86 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Wednesday, August 28th will be issued a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a yield of 4.15%. The ex-dividend date of this dividend is Wednesday, August 28th. Sun Life Financial’s dividend payout ratio is presently 59.85%.

Analyst Upgrades and Downgrades

SLF has been the topic of a number of research reports. Barclays initiated coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. Argus raised Sun Life Financial to a “strong-buy” rating in a report on Monday, June 3rd.

Sun Life Financial Company 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.