Principal Financial Group Inc. Has $1.02 Million Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Principal Financial Group Inc. reduced its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,633 shares of the financial services provider’s stock after selling 700 shares during the quarter. Principal Financial Group Inc.’s holdings in Sun Life Financial were worth $1,024,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in SLF. GAMMA Investing LLC lifted 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 buying an additional 562 shares in the last quarter. Clean Yield Group acquired a new stake in Sun Life Financial in the third quarter valued at $39,000. Ridgewood Investments LLC acquired a new stake in Sun Life Financial in the second quarter valued at $39,000. Fairfield Financial Advisors LTD bought a new position in shares of Sun Life Financial in the 2nd quarter valued at about $43,000. Finally, Concord Wealth Partners acquired a new position in shares of Sun Life Financial during the 3rd quarter worth about $116,000. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of SLF opened at $61.18 on Friday. The firm’s 50-day simple moving average is $57.89 and its 200 day simple moving average is $53.19. The firm has a market cap of $35.22 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $61.86.

Sun Life Financial Increases Dividend

The company also recently declared 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 is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a yield of 4.06%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 52.34%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Barclays began coverage on Sun Life Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company.

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.