Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 3.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,633 shares of the financial services provider’s stock after selling 700 shares during the period. Principal Financial Group Inc.’s holdings in Sun Life Financial were worth $1,024,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Assetmark Inc. boosted its holdings in Sun Life Financial by 2,747.4% during the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after buying an additional 522 shares in the last quarter. Addison Advisors LLC boosted its stake in shares of Sun Life Financial by 124.9% during the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 361 shares in the last quarter. Clean Yield Group acquired a new position in shares of Sun Life Financial in the 3rd quarter worth $39,000. Fairfield Financial Advisors LTD acquired a new stake in shares of Sun Life Financial during the second quarter worth $43,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Sun Life Financial during the third quarter valued at $51,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

Sun Life Financial Stock Performance

Shares of NYSE:SLF opened at $59.18 on Friday. The firm has a 50 day simple moving average of $59.73 and a 200 day simple moving average of $55.29. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85. The company has a market cap of $34.05 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 1.55 and a beta of 1.03.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.621 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.20%. Sun Life Financial’s payout ratio is currently 55.23%.

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.