Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. lowered its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 52.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 483,212 shares of the financial services provider's stock after selling 534,752 shares during the quarter. Sun Life Financial accounts for approximately 0.9% of Intact Investment Management Inc.'s holdings, making the stock its 27th biggest holding. Intact Investment Management Inc. owned 0.08% of Sun Life Financial worth $28,031,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CANADA LIFE ASSURANCE Co raised its holdings in shares of Sun Life Financial by 3.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider's stock worth $34,474,000 after acquiring an additional 23,235 shares during the last quarter. Cetera Investment Advisers lifted its holdings 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 valued at $3,506,000 after purchasing an additional 33,401 shares in the last quarter. Twin Tree Management LP boosted its stake in shares of 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 worth $14,961,000 after purchasing an additional 195,745 shares during the last quarter. Forsta AP Fonden grew its holdings in shares of Sun Life Financial by 6.5% during the first quarter. Forsta AP Fonden now owns 301,700 shares of the financial services provider's stock worth $16,478,000 after buying an additional 18,500 shares in the last quarter. Finally, Bessemer Group Inc. raised its position in shares of Sun Life Financial by 845.9% in the first quarter. Bessemer Group Inc. now owns 20,478 shares of the financial services provider's stock valued at $1,117,000 after buying an additional 18,313 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 traded up $0.08 during mid-day trading on Monday, reaching $55.68. The company's stock had a trading volume of 299,853 shares, compared to its average volume of 651,574. The stock has a market cap of $35.08 billion, a P/E ratio of 14.33, a P/E/G ratio of 1.43 and a beta of 1.01. The company's fifty day simple moving average is $56.44 and its two-hundred day simple moving average is $52.36. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $58.51.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. Sun Life Financial had a net margin of 8.60% and a return on equity of 17.47%. Sell-side analysts expect that Sun Life Financial Inc. will post 4.86 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were paid a $0.587 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.22%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial's dividend payout ratio is currently 60.57%.

Wall Street Analysts Forecast Growth

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

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.