Skandinaviska Enskilda Banken AB publ Has $3.78 Million Stake in Sun Life Financial Inc. (NYSE:SLF)

Skandinaviska Enskilda Banken AB publ cut its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 24.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 77,071 shares of the financial services provider’s stock after selling 25,365 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Sun Life Financial were worth $3,776,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Verdence Capital Advisors LLC increased its holdings in shares of Sun Life Financial by 1.8% in the second quarter. Verdence Capital Advisors LLC now owns 12,160 shares of the financial services provider’s stock valued at $596,000 after purchasing an additional 219 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in Sun Life Financial by 2.2% in the first quarter. Sequoia Financial Advisors LLC now owns 10,302 shares of the financial services provider’s stock valued at $562,000 after acquiring an additional 221 shares during the last quarter. Burney Co. increased its position in Sun Life Financial by 0.3% in the first quarter. Burney Co. now owns 89,252 shares of the financial services provider’s stock worth $4,871,000 after purchasing an additional 238 shares during the period. Claret Asset Management Corp raised its holdings in Sun Life Financial by 3.4% during the 1st quarter. Claret Asset Management Corp now owns 8,334 shares of the financial services provider’s stock worth $455,000 after purchasing an additional 272 shares during the last quarter. Finally, PDS Planning Inc lifted its position in Sun Life Financial by 6.2% during the 1st quarter. PDS Planning Inc now owns 5,245 shares of the financial services provider’s stock valued at $286,000 after purchasing an additional 308 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Trading Down 0.5 %

NYSE SLF opened at $56.59 on Monday. Sun Life Financial Inc. has a 12 month low of $44.57 and a 12 month high of $57.20. The company has a market capitalization of $32.81 billion, a PE ratio of 14.47, a P/E/G ratio of 1.45 and a beta of 1.00. The stock has a 50-day simple moving average of $52.18 and a 200 day simple moving average of $51.61.

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 for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $6.72 billion. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 4.86 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

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

Analyst Ratings Changes

Several brokerages have recently commented on SLF. Barclays began coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company. Argus raised shares of 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.