Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. cut its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 52.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 483,212 shares of the financial services provider’s stock after selling 534,752 shares during the quarter. Sun Life Financial accounts for 0.9% of Intact Investment Management Inc.’s portfolio, making the stock its 27th biggest holding. Intact Investment Management Inc. owned 0.08% of Sun Life Financial worth $28,031,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of SLF. First Trust Direct Indexing L.P. boosted its stake in shares of Sun Life Financial by 11.4% in the first quarter. First Trust Direct Indexing L.P. now owns 8,613 shares of the financial services provider’s stock valued at $470,000 after buying an additional 880 shares in the last quarter. Diversify Advisory Services LLC purchased a new stake in Sun Life Financial during the first quarter worth $310,000. Sequoia Financial Advisors LLC boosted its position in Sun Life Financial by 2.2% during the first quarter. Sequoia Financial Advisors LLC now owns 10,302 shares of the financial services provider’s stock worth $562,000 after purchasing an additional 221 shares in the last quarter. TFB Advisors LLC purchased a new stake in Sun Life Financial during the first quarter worth $386,000. Finally, Signaturefd LLC boosted its position in Sun Life Financial by 2.6% during the first quarter. Signaturefd LLC now owns 22,939 shares of the financial services provider’s stock worth $1,252,000 after purchasing an additional 574 shares in the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Stock Performance

SLF opened at $55.60 on Monday. The business’s fifty day moving average is $56.44 and its two-hundred day moving average is $52.36. The company has a market cap of $35.03 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 1.43 and a beta of 1.01. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $58.51.

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

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were given a $0.587 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $2.35 annualized dividend and a dividend yield of 4.22%. Sun Life Financial’s dividend payout ratio is currently 60.57%.

Analyst Upgrades and Downgrades

Separately, Barclays began coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock.

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.