Sun Life Financial Inc. (NYSE:SLF) Stake Reduced by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV decreased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 12.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,184 shares of the financial services provider’s stock after selling 321 shares during the period. Massmutual Trust Co. FSB ADV’s holdings in Sun Life Financial were worth $127,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Sun Life Financial by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock valued at $34,474,000 after purchasing an additional 23,235 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Sun Life Financial by 20.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,620,801 shares of the financial services provider’s stock valued at $84,055,000 after acquiring an additional 275,334 shares during the period. Cetera Investment Advisers boosted its stake in Sun Life Financial by 108.3% in the 1st quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock worth $3,506,000 after purchasing an additional 33,401 shares during the period. Public Sector Pension Investment Board grew its position in Sun Life Financial by 372.8% during the 4th quarter. Public Sector Pension Investment Board now owns 731,780 shares of the financial services provider’s stock worth $38,137,000 after purchasing an additional 577,015 shares in the last quarter. Finally, Twin Tree Management LP raised its stake in Sun Life Financial by 249.8% during the 1st quarter. Twin Tree Management LP now owns 274,119 shares of the financial services provider’s stock valued at $14,961,000 after purchasing an additional 195,745 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Barclays started coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company.

Sun Life Financial Stock Up 1.3 %

SLF stock opened at $58.31 on Friday. Sun Life Financial Inc. has a 12-month low of $44.57 and a 12-month high of $58.51. The company has a market cap of $33.65 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.49 and a beta of 1.00. The company has a 50 day moving average of $53.74 and a two-hundred day moving average of $51.84.

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. The business had revenue of $6.52 billion during the quarter, compared to analyst estimates of $6.72 billion. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. On average, research analysts anticipate that Sun Life Financial Inc. will post 4.86 EPS for the current year.

Sun Life Financial Cuts Dividend

The business also recently announced 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. The ex-dividend date was Wednesday, August 28th. This represents a $2.35 dividend on an annualized basis and a yield of 4.03%. Sun Life Financial’s payout ratio is currently 60.10%.

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.