Forsta AP Fonden Sells 11,800 Shares of Sun Life Financial Inc. (NYSE:SLF)

Forsta AP Fonden reduced its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 289,900 shares of the financial services provider’s stock after selling 11,800 shares during the quarter. Forsta AP Fonden owned about 0.05% of Sun Life Financial worth $14,212,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SLF. Voisard Asset Management Group Inc. bought a new stake in shares of Sun Life Financial in the 4th quarter worth approximately $26,000. GAMMA Investing LLC grew its position in shares of Sun Life Financial by 6,244.4% in the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after buying an additional 562 shares during the last quarter. Ridgewood Investments LLC bought a new stake in shares of Sun Life Financial in the 2nd quarter worth approximately $39,000. Private Wealth Management Group LLC bought a new stake in shares of Sun Life Financial in the 4th quarter worth approximately $41,000. Finally, Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of Sun Life Financial in the 1st quarter worth approximately $76,000. 52.26% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on SLF. Argus upgraded Sun Life Financial to a “strong-buy” rating in a research note on Monday, June 3rd. Barclays began 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 Up 1.2 %

SLF opened at $55.99 on Friday. The stock has a market cap of $32.34 billion, a PE ratio of 14.32, a PEG ratio of 1.42 and a beta of 1.00. The business has a 50 day moving average of $51.35 and a 200-day moving average of $51.53. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $56.04.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. The company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Equities analysts anticipate that Sun Life Financial Inc. will post 4.86 EPS for the current year.

Sun Life Financial Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th will be given a $0.587 dividend. This represents a $2.35 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Wednesday, August 28th. Sun Life Financial’s dividend payout ratio is presently 60.10%.

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.