Cwm LLC Has $290,000 Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Cwm LLC lowered its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 20.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,001 shares of the financial services provider’s stock after selling 1,312 shares during the quarter. Cwm LLC’s holdings in Sun Life Financial were worth $290,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. GAMMA Investing LLC grew its stake in Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 562 shares in the last quarter. Ridgewood Investments LLC bought a new position in shares of Sun Life Financial in the second quarter valued at $39,000. Clean Yield Group acquired a new position in Sun Life Financial during the third quarter worth $39,000. Fairfield Financial Advisors LTD bought a new stake in Sun Life Financial during the second quarter worth $43,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new stake in Sun Life Financial in the first quarter valued at $76,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analysts Set New Price Targets

Separately, Barclays assumed coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They set an “equal weight” rating on the stock.

Sun Life Financial Stock Down 0.4 %

SLF opened at $56.92 on Tuesday. Sun Life Financial Inc. has a 12-month low of $44.57 and a 12-month high of $58.51. The business has a 50 day moving average of $55.71 and a 200-day moving average of $52.06. The stock has a market cap of $32.81 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.46 and a beta of 1.00.

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 (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $6.72 billion. As a group, analysts expect that Sun Life Financial Inc. will post 4.88 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were issued a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a dividend yield of 4.13%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s payout ratio is 60.57%.

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.