Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 20.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 336,686 shares of the financial services provider’s stock after selling 84,320 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.06% of Sun Life Financial worth $16,505,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Voisard Asset Management Group Inc. purchased a new position in shares of Sun Life Financial during the fourth quarter valued at approximately $26,000. GAMMA Investing LLC lifted 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. Northwest Financial Advisors bought a new position in shares of Sun Life Financial in the 4th quarter worth about $29,000. Ridgewood Investments LLC bought a new stake in Sun Life Financial in the 2nd quarter valued at about $39,000. Finally, Private Wealth Management Group LLC bought a new stake in Sun Life Financial in the 4th quarter valued at about $41,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research report on Monday, June 3rd.

Sun Life Financial Price Performance

Shares of SLF traded up $0.04 during mid-day trading on Friday, hitting $54.21. The company’s stock had a trading volume of 68,285 shares, compared to its average volume of 717,121. The firm has a 50-day moving average price of $50.01 and a 200 day moving average price of $51.42. The stock has a market capitalization of $31.43 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.34 and a beta of 0.99. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $55.46.

Sun Life Financial Cuts Dividend

The company also recently announced 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 4.33%. The ex-dividend date is Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is currently 59.85%.

Sun Life Financial Company 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.