Zurcher Kantonalbank Zurich Cantonalbank Cuts Holdings in Sun Life Financial Inc. (NYSE:SLF)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 311,546 shares of the financial services provider's stock after selling 25,140 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Sun Life Financial were worth $18,092,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its stake in Sun Life Financial by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 105,050 shares of the financial services provider's stock worth $5,734,000 after acquiring an additional 3,423 shares during the last quarter. Virtu Financial LLC bought a new stake in Sun Life Financial in the first quarter worth $299,000. Cetera Investment Advisers boosted its stake in Sun Life Financial by 108.3% during the first quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider's stock worth $3,506,000 after buying an additional 33,401 shares during the period. Cetera Advisors LLC purchased a new position in Sun Life Financial during the first quarter worth $384,000. Finally, GAMMA Investing LLC raised its stake in shares of Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider's stock valued at $28,000 after acquiring an additional 562 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently commented on SLF. StockNews.com cut shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, November 19th. Barclays assumed coverage on Sun Life Financial in a research note on Thursday, September 5th. They set an "equal weight" rating on the stock.

Sun Life Financial Trading Up 0.8 %

Shares of NYSE SLF traded up $0.47 during mid-day trading on Friday, reaching $61.39. The company had a trading volume of 300,235 shares, compared to its average volume of 668,775. The stock has a market cap of $35.34 billion, a price-to-earnings ratio of 13.67, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $61.86. The business's 50-day moving average is $58.36 and its 200-day moving average is $53.51.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a $0.621 dividend. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.05%. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio is 55.23%.

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.