Cetera Investment Advisers Has $2.68 Million Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Cetera Investment Advisers cut its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 14.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,667 shares of the financial services provider's stock after selling 9,573 shares during the quarter. Cetera Investment Advisers' holdings in Sun Life Financial were worth $2,678,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Verdence Capital Advisors LLC increased its position in Sun Life Financial by 1.8% during the 2nd 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 during the period. Sequoia Financial Advisors LLC grew its position 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 worth $562,000 after buying an additional 221 shares in the last quarter. Burney Co. increased its stake in Sun Life Financial by 0.3% during the 1st quarter. Burney Co. now owns 89,252 shares of the financial services provider's stock worth $4,871,000 after acquiring an additional 238 shares during the period. Claret Asset Management Corp raised its holdings in Sun Life Financial by 3.4% in the 1st quarter. Claret Asset Management Corp now owns 8,334 shares of the financial services provider's stock valued at $455,000 after acquiring an additional 272 shares in the last quarter. Finally, PDS Planning Inc lifted its position in shares of Sun Life Financial by 6.2% during the 1st quarter. PDS Planning Inc now owns 5,245 shares of the financial services provider's stock valued at $286,000 after acquiring an additional 308 shares during the period. Institutional investors and hedge funds own 52.26% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Barclays initiated 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 Price Performance

SLF stock traded down $0.02 during midday trading on Friday, reaching $57.22. 318,557 shares of the stock were exchanged, compared to its average volume of 677,262. The company has a fifty day moving average price of $54.55 and a 200 day moving average price of $51.95. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $58.51. The stock has a market capitalization of $33.17 billion, a PE ratio of 14.63, a P/E/G ratio of 1.47 and a beta of 1.00.

Sun Life Financial (NYSE:SLF - Get Free Report) 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 firm had revenue of $6.52 billion during the quarter, compared to analysts' expectations of $6.72 billion. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. As a group, 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 business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were given a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a yield of 4.10%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial's dividend payout ratio is currently 59.85%.

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.