Sun Life Financial Inc. (NYSE:SLF) Shares Sold by MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH cut its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 32.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,680 shares of the financial services provider’s stock after selling 14,437 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Sun Life Financial were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Prudential PLC boosted its stake in shares of Sun Life Financial by 15.9% in the fourth quarter. Prudential PLC now owns 349,027 shares of the financial services provider’s stock worth $18,102,000 after acquiring an additional 47,755 shares during the last quarter. Addenda Capital Inc. boosted its stake in Sun Life Financial by 21.1% during the fourth quarter. Addenda Capital Inc. now owns 148,679 shares of the financial services provider’s stock worth $7,710,000 after buying an additional 25,886 shares during the last quarter. UBS Group AG boosted its stake in Sun Life Financial by 36.8% during the fourth quarter. UBS Group AG now owns 696,047 shares of the financial services provider’s stock worth $36,097,000 after buying an additional 187,064 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Sun Life Financial by 20.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,620,801 shares of the financial services provider’s stock worth $84,055,000 after buying an additional 275,334 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in Sun Life Financial during the fourth quarter worth $5,504,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Performance

NYSE SLF opened at $48.96 on Wednesday. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $55.46. The firm has a market capitalization of $28.39 billion, a P/E ratio of 12.52, a price-to-earnings-growth ratio of 1.25 and a beta of 0.99. The stock’s fifty day moving average is $50.24 and its two-hundred day moving average is $51.73.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Thursday, May 9th. The financial services provider reported $1.11 EPS for the quarter, missing analysts’ consensus estimates of $1.20 by ($0.09). Sun Life Financial had a net margin of 8.94% and a return on equity of 16.97%. The business had revenue of $5.10 billion during the quarter, compared to analysts’ expectations of $7.25 billion. As a group, sell-side analysts forecast that Sun Life Financial Inc. will post 4.88 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Wednesday, May 29th were issued a $0.588 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.80%. The ex-dividend date was Wednesday, May 29th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.58. Sun Life Financial’s payout ratio is currently 60.10%.

Wall Street Analysts Forecast Growth

Separately, Argus raised Sun Life Financial to a “strong-buy” rating in a research note on Monday, June 3rd.

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.