Sumitomo Mitsui Trust Holdings Inc. Sells 28,010 Shares of Sun Life Financial Inc. (NYSE:SLF)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,491,459 shares of the financial services provider’s stock after selling 28,010 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.26% of Sun Life Financial worth $77,605,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in SLF. Money Concepts Capital Corp bought a new position in Sun Life Financial in the fourth quarter valued at approximately $26,000. Achmea Investment Management B.V. bought a new position in Sun Life Financial in the first quarter valued at approximately $32,000. IFP Advisors Inc boosted its position in Sun Life Financial by 166.9% in the second quarter. IFP Advisors Inc now owns 678 shares of the financial services provider’s stock valued at $35,000 after buying an additional 424 shares in the last quarter. Headinvest LLC acquired a new stake in Sun Life Financial in the third quarter valued at approximately $39,000. Finally, Legacy Financial Group LLC acquired a new stake in Sun Life Financial in the third quarter valued at approximately $40,000. 52.26% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group assumed coverage on shares of Sun Life Financial in a report on Thursday, February 22nd. They set a “buy” rating on the stock.

Sun Life Financial Stock Performance

Shares of NYSE:SLF opened at $50.22 on Thursday. The firm has a market cap of $29.25 billion, a PE ratio of 12.94, a price-to-earnings-growth ratio of 1.24 and a beta of 1.01. The firm’s fifty day moving average is $53.65 and its 200-day moving average is $51.19. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $55.46.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.06. The company had revenue of $13.73 billion for the quarter. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. Sell-side analysts forecast that Sun Life Financial Inc. will post 5.06 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were issued a $0.581 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $2.32 annualized dividend and a yield of 4.63%. Sun Life Financial’s payout ratio is presently 59.79%.

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.