Clearbridge Investments LLC Trims Holdings in Sun Life Financial Inc. (NYSE:SLF)

Clearbridge Investments LLC lessened its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 273,017 shares of the financial services provider’s stock after selling 16,566 shares during the period. Clearbridge Investments LLC’s holdings in Sun Life Financial were worth $13,375,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its holdings in Sun Life Financial by 3.8% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock valued at $34,474,000 after purchasing an additional 23,235 shares during the period. Goldman Sachs Group Inc. increased its holdings in Sun Life Financial by 20.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,620,801 shares of the financial services provider’s stock valued at $84,055,000 after purchasing an additional 275,334 shares during the period. Cetera Investment Advisers increased its holdings in Sun Life Financial by 108.3% during 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 during the period. Public Sector Pension Investment Board increased its holdings in Sun Life Financial by 372.8% during the 4th quarter. Public Sector Pension Investment Board now owns 731,780 shares of the financial services provider’s stock valued at $38,137,000 after purchasing an additional 577,015 shares during the period. Finally, Twin Tree Management LP increased its holdings in 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 valued at $14,961,000 after purchasing an additional 195,745 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analyst Ratings Changes

Separately, Barclays started coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $58.31 on Friday. The stock’s 50 day simple moving average is $53.74 and its two-hundred day simple moving average is $51.86. The stock has a market cap of $33.81 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.49 and a beta of 1.00. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $58.51.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. The firm had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.72 billion. On average, analysts predict that Sun Life Financial Inc. will post 4.86 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were given a $0.587 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $2.35 annualized dividend and a yield of 4.03%. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.85%.

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.