Sun Life Financial Inc. (NYSE:SLF) Stake Lowered by Fiera Capital Corp

Fiera Capital Corp lowered its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 836,152 shares of the financial services provider's stock after selling 14,486 shares during the quarter. Fiera Capital Corp owned about 0.13% of Sun Life Financial worth $48,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in SLF. GAMMA Investing LLC boosted its position in shares of 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 valued at $28,000 after buying an additional 562 shares during the last quarter. Ridgewood Investments LLC bought a new position in Sun Life Financial in the 2nd quarter valued at $39,000. Clean Yield Group purchased a new position in Sun Life Financial during the 3rd quarter worth $39,000. Fairfield Financial Advisors LTD purchased a new stake in Sun Life Financial during the second quarter worth $43,000. Finally, Tobam increased its position in shares of Sun Life Financial by 57.6% during the second quarter. Tobam now owns 2,066 shares of the financial services provider's stock worth $101,000 after purchasing an additional 755 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company's stock.

Wall Street Analyst Weigh In

SLF has been the subject of several recent research reports. StockNews.com raised shares of Sun Life Financial from a "hold" rating to a "buy" rating in a report on Wednesday. Barclays assumed coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an "equal weight" rating for the company.

Sun Life Financial Stock Performance

NYSE SLF traded down $0.36 during trading on Friday, reaching $59.24. The company's stock had a trading volume of 430,723 shares, compared to its average volume of 659,572. The business's fifty day moving average price is $56.82 and its 200-day moving average price is $52.59. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $59.81. The firm has a market cap of $37.33 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 1.51 and a beta of 1.01.

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 for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. The business had revenue of $6.52 billion during the quarter, compared to analysts' expectations of $6.72 billion. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. As a group, sell-side analysts forecast that Sun Life Financial Inc. will post 4.87 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be paid a $0.621 dividend. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial's payout ratio is currently 52.34%.

Sun Life Financial Company 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.