Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Cardinal Capital Management Inc.

Cardinal Capital Management Inc. decreased its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 869,866 shares of the financial services provider's stock after selling 15,380 shares during the quarter. Sun Life Financial makes up 2.1% of Cardinal Capital Management Inc.'s portfolio, making the stock its 14th largest position. Cardinal Capital Management Inc. owned 0.15% of Sun Life Financial worth $50,519,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Voisard Asset Management Group Inc. purchased a new position in shares of Sun Life Financial in the 4th quarter worth approximately $26,000. GAMMA Investing LLC raised its position in Sun Life Financial by 6,244.4% during the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider's stock worth $28,000 after acquiring an additional 562 shares during the period. Clean Yield Group purchased a new stake in shares of Sun Life Financial during the third quarter worth $39,000. Ridgewood Investments LLC purchased a new stake in shares of Sun Life Financial during the second quarter worth $39,000. Finally, Fairfield Financial Advisors LTD acquired a new stake in Sun Life Financial during the second quarter worth about $43,000. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Price Performance

Shares of NYSE SLF traded down $0.02 during midday trading on Friday, hitting $57.22. The company's stock had a trading volume of 318,557 shares, compared to its average volume of 367,242. The business's fifty day simple moving average is $54.55 and its two-hundred day simple moving average is $51.94. Sun Life Financial Inc. has a 1 year low of $44.57 and a 1 year high of $58.51. The firm has a market capitalization of $33.03 billion, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.47 and a beta of 1.00.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.07. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. The company had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. Analysts anticipate that Sun Life Financial Inc. will post 4.88 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were issued 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 4.10%. Sun Life Financial's payout ratio is currently 60.57%.

Wall Street Analyst Weigh In

Separately, Barclays initiated coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company.

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.