Yousif Capital Management LLC lowered its position in Sun Life Financial Inc. (NYSE:SLF – Free Report) (TSE:SLF) by 14.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,789 shares of the financial services provider’s stock after selling 1,295 shares during the quarter. Yousif Capital Management LLC’s holdings in Sun Life Financial were worth $462,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in Sun Life Financial by 7.6% during the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after buying an additional 654,404 shares in the last quarter. CIBC Asset Management Inc increased its position in Sun Life Financial by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider’s stock worth $377,311,000 after purchasing an additional 81,261 shares in the last quarter. National Bank of Canada FI raised its stake in Sun Life Financial by 28.2% in the 3rd quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock valued at $338,621,000 after purchasing an additional 1,284,556 shares during the last quarter. FMR LLC lifted its holdings in Sun Life Financial by 5.2% in the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after purchasing an additional 257,178 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Sun Life Financial by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock worth $164,876,000 after purchasing an additional 34,072 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.
Sun Life Financial Price Performance
NYSE SLF opened at $55.17 on Tuesday. The company has a market cap of $34.65 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.61 and a beta of 1.03. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $62.85. The company has a 50-day moving average of $58.78 and a 200-day moving average of $57.23.
Sun Life Financial Cuts Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Wednesday, February 26th will be issued a $0.5876 dividend. This represents a $2.35 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s payout ratio is currently 57.46%.
Analyst Upgrades and Downgrades
A number of equities analysts have recently weighed in on the stock. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial has a consensus rating of “Moderate Buy”.
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.
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