Citigroup Inc. Lowers Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Citigroup Inc. reduced its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 93,568 shares of the financial services provider’s stock after selling 4,600 shares during the quarter. Citigroup Inc.’s holdings in Sun Life Financial were worth $5,434,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its holdings in shares of Sun Life Financial by 3.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 105,050 shares of the financial services provider’s stock valued at $5,734,000 after purchasing an additional 3,423 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Sun Life Financial in the first quarter worth $299,000. Cetera Investment Advisers increased its position in shares of Sun Life Financial by 108.3% during 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 during the period. Cetera Advisors LLC acquired a new position in Sun Life Financial during the 1st quarter worth $384,000. Finally, GAMMA Investing LLC increased its holdings 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 purchasing an additional 562 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SLF. Barclays assumed coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

Sun Life Financial Price Performance

NYSE:SLF opened at $61.39 on Monday. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $61.86. The firm has a market capitalization of $35.34 billion, a PE ratio of 13.67, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The business’s fifty day moving average price is $58.36 and its 200 day moving average price is $53.55.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a dividend of $0.621 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.05%. Sun Life Financial’s payout ratio is presently 55.23%.

About Sun Life Financial

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.