Sun Life Financial Inc (SLF) Holdings Trimmed by Gulf International Bank UK Ltd

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Gulf International Bank UK Ltd lessened its holdings in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 94.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,056 shares of the financial services provider’s stock after selling 181,858 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Sun Life Financial were worth $439,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. boosted its holdings in Sun Life Financial by 15.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 9,804 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 1,330 shares in the last quarter. Vident Investment Advisory LLC boosted its holdings in Sun Life Financial by 1.7% in the second quarter. Vident Investment Advisory LLC now owns 83,137 shares of the financial services provider’s stock worth $3,344,000 after acquiring an additional 1,365 shares in the last quarter. K.J. Harrison & Partners Inc boosted its holdings in Sun Life Financial by 19.2% in the second quarter. K.J. Harrison & Partners Inc now owns 10,255 shares of the financial services provider’s stock worth $412,000 after acquiring an additional 1,650 shares in the last quarter. Moody Aldrich Partners LLC acquired a new stake in Sun Life Financial in the second quarter worth about $68,346,000. Finally, Comerica Bank boosted its holdings in Sun Life Financial by 4.2% in the third quarter. Comerica Bank now owns 43,980 shares of the financial services provider’s stock worth $1,648,000 after acquiring an additional 1,771 shares in the last quarter. 41.58% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial stock opened at $36.83 on Wednesday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.06 and a quick ratio of 4.06. Sun Life Financial Inc has a 52 week low of $35.78 and a 52 week high of $44.50. The stock has a market cap of $22.12 billion, a P/E ratio of 11.51 and a beta of 0.83.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Investors of record on Wednesday, November 28th will be issued a dividend of $0.38 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.37. The ex-dividend date is Tuesday, November 27th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 4.13%. Sun Life Financial’s payout ratio is 45.63%.

Several brokerages have weighed in on SLF. Zacks Investment Research downgraded Sun Life Financial from a “hold” rating to a “sell” rating in a report on Monday, August 27th. ValuEngine downgraded Sun Life Financial from a “hold” rating to a “sell” rating in a report on Tuesday, August 7th. Desjardins reissued a “buy” rating on shares of Sun Life Financial in a report on Tuesday, October 16th. Canaccord Genuity reissued an “average” rating and issued a $53.00 price target on shares of Sun Life Financial in a report on Friday, November 9th. Finally, Barclays reaffirmed a “buy” rating on shares of Sun Life Financial in a report on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $53.60.

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Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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