LGT Group Foundation Sells 28,264 Shares of Sun Life Financial Inc. (NYSE:SLF)

LGT Group Foundation trimmed its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 327,036 shares of the financial services provider’s stock after selling 28,264 shares during the quarter. LGT Group Foundation owned 0.06% of Sun Life Financial worth $16,813,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. RIA Advisory Group LLC bought a new position in shares of Sun Life Financial in the 4th quarter valued at $39,000. Legacy Financial Group LLC bought a new position in Sun Life Financial in the third quarter valued at about $40,000. Headinvest LLC bought a new position in Sun Life Financial in the third quarter valued at about $39,000. Headlands Technologies LLC acquired a new position in Sun Life Financial during the fourth quarter worth about $43,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Sun Life Financial in the third quarter worth about $62,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Trading Up 0.5 %

SLF traded up $0.26 on Thursday, reaching $51.75. The stock had a trading volume of 98,588 shares, compared to its average volume of 604,616. The company has a market capitalization of $30.14 billion, a price-to-earnings ratio of 13.27, a price-to-earnings-growth ratio of 1.27 and a beta of 1.00. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $55.46. The firm has a 50-day moving average of $53.28 and a 200-day moving average of $51.41.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. The company had revenue of $13.73 billion during the quarter. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. Sell-side analysts anticipate that Sun Life Financial Inc. will post 5.03 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were paid a dividend of $0.581 per share. The ex-dividend date was Tuesday, February 27th. This represents a $2.32 annualized dividend and a dividend yield of 4.49%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.56. Sun Life Financial’s dividend payout ratio (DPR) is presently 59.79%.

Wall Street Analyst Weigh In

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

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.