UniSuper Management Pty Ltd Trims Holdings in Sun Life Financial Inc. (NYSE:SLF)

UniSuper Management Pty Ltd cut its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 36.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,100 shares of the financial services provider's stock after selling 6,346 shares during the period. UniSuper Management Pty Ltd's holdings in Sun Life Financial were worth $659,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Korea Investment CORP raised its stake in shares of Sun Life Financial by 10.8% in the 4th quarter. Korea Investment CORP now owns 426,705 shares of the financial services provider's stock valued at $25,323,000 after acquiring an additional 41,570 shares during the period. Financial Counselors Inc. boosted its position in shares of Sun Life Financial by 4.2% during the fourth quarter. Financial Counselors Inc. now owns 8,148 shares of the financial services provider's stock worth $484,000 after buying an additional 325 shares during the period. Mufg Securities Canada LTD. grew its stake in shares of Sun Life Financial by 71.5% in the fourth quarter. Mufg Securities Canada LTD. now owns 879,349 shares of the financial services provider's stock valued at $52,178,000 after buying an additional 366,546 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Sun Life Financial in the 4th quarter valued at $3,362,000. Finally, Vanguard Group Inc. boosted its holdings in Sun Life Financial by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 24,233,496 shares of the financial services provider's stock valued at $1,438,888,000 after acquiring an additional 197,887 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

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Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. StockNews.com downgraded Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Finally, National Bank Financial upgraded Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, January 15th. Two equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy".

Sun Life Financial Trading Down 0.8 %

Shares of SLF stock traded down $0.47 on Thursday, reaching $58.31. 644,608 shares of the stock were exchanged, compared to its average volume of 699,812. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85. The company has a market capitalization of $33.28 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.52 and a beta of 1.04. The business's 50 day moving average price is $56.65 and its 200 day moving average price is $58.01.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. Equities research analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th were paid a $0.5876 dividend. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.35 annualized dividend and a yield of 4.03%. Sun Life Financial's dividend payout ratio is presently 60.16%.

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.