Private Advisor Group LLC Cuts Stake in Sun Life Financial Inc. (NYSE:SLF)

Private Advisor Group LLC lowered its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,462 shares of the financial services provider’s stock after selling 820 shares during the period. Private Advisor Group LLC’s holdings in Sun Life Financial were worth $491,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. Verdence Capital Advisors LLC lifted 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 worth $596,000 after buying an additional 219 shares in the last quarter. Sequoia Financial Advisors LLC raised its stake in Sun Life Financial by 2.2% during the first quarter. Sequoia Financial Advisors LLC now owns 10,302 shares of the financial services provider’s stock valued at $562,000 after purchasing an additional 221 shares in the last quarter. Burney Co. raised its stake in Sun Life Financial by 0.3% during the first quarter. Burney Co. now owns 89,252 shares of the financial services provider’s stock valued at $4,871,000 after purchasing an additional 238 shares in the last quarter. Blair William & Co. IL raised its stake in Sun Life Financial by 3.0% during the first quarter. Blair William & Co. IL now owns 12,568 shares of the financial services provider’s stock valued at $686,000 after purchasing an additional 366 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Sun Life Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 33,507 shares of the financial services provider’s stock valued at $1,642,000 after purchasing an additional 426 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Up 0.1 %

Sun Life Financial stock opened at $55.68 on Tuesday. The company has a market cap of $35.08 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.43 and a beta of 1.01. The firm’s fifty day moving average is $56.46 and its 200 day moving average is $52.39. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $58.51.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data 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 analysts’ expectations of $6.72 billion. On average, equities research analysts anticipate 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 disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.587 per share. This represents a $2.35 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is 60.57%.

Analysts Set New Price Targets

Separately, Barclays started 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 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.