Sun Life Financial Inc. (NYSE:SLF) Stock Holdings Lessened by Wambolt & Associates LLC

Wambolt & Associates LLC cut its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 14.2% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,630 shares of the financial services provider’s stock after selling 1,095 shares during the period. Wambolt & Associates LLC’s holdings in Sun Life Financial were worth $323,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Truist Financial Corp raised its stake in shares of Sun Life Financial by 13.0% during the 4th quarter. Truist Financial Corp now owns 6,916 shares of the financial services provider’s stock worth $359,000 after purchasing an additional 795 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Sun Life Financial by 19.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,142,666 shares of the financial services provider’s stock valued at $59,255,000 after acquiring an additional 182,543 shares during the last quarter. Fiera Capital Corp grew its position in Sun Life Financial by 24.1% in the fourth quarter. Fiera Capital Corp now owns 842,526 shares of the financial services provider’s stock worth $43,839,000 after acquiring an additional 163,661 shares in the last quarter. Private Wealth Management Group LLC acquired a new position in shares of Sun Life Financial during the 4th quarter worth $41,000. Finally, Norges Bank bought a new position in shares of Sun Life Financial during the 4th quarter valued at $335,757,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of SLF opened at $55.99 on Friday. The company has a market capitalization of $32.34 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 1.42 and a beta of 1.00. Sun Life Financial Inc. has a one year low of $44.57 and a one year high of $56.04. The company’s fifty day moving average price is $51.35 and its 200 day moving average price is $51.53.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. The business had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. Analysts anticipate that Sun Life Financial Inc. will post 4.86 earnings per share for the current year.

Sun Life Financial Cuts Dividend

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

Analyst Ratings Changes

Several equities analysts have commented on SLF shares. Argus raised shares of Sun Life Financial to a “strong-buy” rating in a research report on Monday, June 3rd. Barclays started coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” 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.