Texas Capital Bank Wealth Management Services Inc Sells 228 Shares of Sun Life Financial Inc. (NYSE:SLF)

Texas Capital Bank Wealth Management Services Inc cut its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,621 shares of the financial services provider’s stock after selling 228 shares during the period. Texas Capital Bank Wealth Management Services Inc’s holdings in Sun Life Financial were worth $716,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Voisard Asset Management Group Inc. bought a new stake in shares of Sun Life Financial in the 4th quarter valued at $26,000. GAMMA Investing LLC boosted its position in Sun Life Financial by 6,244.4% during the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 562 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in Sun Life Financial during the 2nd quarter worth about $39,000. Fairfield Financial Advisors LTD bought a new position in shares of Sun Life Financial in the 2nd quarter worth about $43,000. Finally, Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Sun Life Financial in the 1st quarter valued at about $76,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SLF shares. Barclays started coverage on Sun Life Financial in a research note on Thursday, September 5th. They set an “equal weight” rating for the company. Argus raised Sun Life Financial to a “strong-buy” rating in a research note on Monday, June 3rd.

Sun Life Financial Stock Down 0.5 %

Shares of SLF opened at $57.82 on Friday. The stock has a market cap of $33.37 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.48 and a beta of 1.00. The business’s fifty day moving average is $52.74 and its 200 day moving average is $51.73. Sun Life Financial Inc. has a 12-month low of $44.57 and a 12-month high of $58.49.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 8.60% and a return on equity of 17.47%. On average, analysts expect that Sun Life Financial Inc. will post 4.86 EPS for the current year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were issued a dividend of $0.587 per share. This represents a $2.35 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio is currently 60.10%.

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.