JCIC Asset Management Inc. trimmed its holdings in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 11.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,403 shares of the financial services provider’s stock after selling 3,980 shares during the quarter. JCIC Asset Management Inc.’s holdings in Sun Life Financial were worth $1,405,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of SLF. Asset Planning Services Ltd. acquired a new stake in shares of Sun Life Financial in the 2nd quarter valued at approximately $27,000. HM Payson & Co. acquired a new stake in shares of Sun Life Financial in the 2nd quarter valued at approximately $31,000. Parallel Advisors LLC boosted its holdings in shares of Sun Life Financial by 113.1% in the 2nd quarter. Parallel Advisors LLC now owns 827 shares of the financial services provider’s stock valued at $34,000 after buying an additional 439 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Sun Life Financial by 514.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 921 shares of the financial services provider’s stock valued at $38,000 after buying an additional 771 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Sun Life Financial in the 2nd quarter valued at approximately $65,000. 40.04% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE SLF traded down $0.12 during trading hours on Monday, hitting $43.24. The company had a trading volume of 30,866 shares, compared to its average volume of 452,551. The stock has a market capitalization of $25.63 billion, a P/E ratio of 11.54, a price-to-earnings-growth ratio of 1.26 and a beta of 0.91. Sun Life Financial Inc has a 1-year low of $31.49 and a 1-year high of $45.05. The firm’s 50 day moving average is $42.37 and its 200-day moving average is $40.83.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, August 28th were paid a $0.401 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Tuesday, August 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.38. Sun Life Financial’s dividend payout ratio is 42.40%.
Several equities research analysts have recently commented on the company. ValuEngine downgraded Sun Life Financial from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Barclays reissued a “hold” rating on shares of Sun Life Financial in a report on Monday, August 26th. Evercore ISI reissued an “outperform” rating on shares of Sun Life Financial in a report on Monday, July 22nd. Zacks Investment Research raised Sun Life Financial from a “sell” rating to a “hold” rating and set a $45.00 price objective for the company in a report on Thursday, July 4th. Finally, Argus increased their price objective on Sun Life Financial from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, July 1st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $51.50.
About Sun Life Financial
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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