Forsta AP Fonden Decreases Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Forsta AP Fonden lowered its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 280,100 shares of the financial services provider’s stock after selling 7,200 shares during the quarter. Forsta AP Fonden’s holdings in Sun Life Financial were worth $16,623,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Assetmark Inc. increased its holdings in shares of Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after buying an additional 522 shares during the last quarter. Addison Advisors LLC increased its holdings in shares of Sun Life Financial by 124.9% in the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after buying an additional 361 shares during the last quarter. Clean Yield Group bought a new stake in shares of Sun Life Financial in the 3rd quarter worth about $39,000. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Sun Life Financial in the 4th quarter worth about $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Sun Life Financial in the 3rd quarter worth about $51,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Trading Up 0.1 %

Shares of NYSE:SLF opened at $58.59 on Thursday. The company has a market capitalization of $33.62 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 1.58 and a beta of 1.03. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $62.85. The firm’s 50-day moving average is $59.73 and its 200 day moving average is $56.50.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th were paid a $0.621 dividend. This represents a $2.48 annualized dividend and a yield of 4.24%. The ex-dividend date of this dividend was Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio (DPR) is currently 57.46%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SLF. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. StockNews.com upgraded shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Monday. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Sun Life Financial has a consensus rating of “Buy”.

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.