Vontobel Holding Ltd. Decreases Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Vontobel Holding Ltd. cut its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 3.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 45,743 shares of the financial services provider’s stock after selling 1,438 shares during the quarter. Vontobel Holding Ltd.’s holdings in Sun Life Financial were worth $2,653,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its stake in 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 buying an additional 562 shares during the last quarter. Clean Yield Group purchased a new position in shares of Sun Life Financial in the third quarter worth about $39,000. Ridgewood Investments LLC purchased a new position in shares of Sun Life Financial in the second quarter worth about $39,000. Fairfield Financial Advisors LTD purchased a new position in shares of Sun Life Financial in the second quarter worth about $43,000. Finally, Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Sun Life Financial in the first quarter worth about $76,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Barclays started coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company.

Sun Life Financial Stock Down 0.2 %

Shares of NYSE:SLF opened at $57.15 on Friday. The stock has a market cap of $32.95 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.47 and a beta of 1.00. Sun Life Financial Inc. has a 52-week low of $44.57 and a 52-week high of $58.51. The business has a 50-day moving average price of $55.53 and a 200-day moving average price of $52.05.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.18 by $0.07. The firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.72 billion. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. As a group, equities analysts anticipate that Sun Life Financial Inc. will post 4.88 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were issued a dividend of $0.587 per share. This represents a $2.35 annualized dividend and a yield of 4.11%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is 60.57%.

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.