Mn Services Vermogensbeheer B.V. Trims Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Mn Services Vermogensbeheer B.V. lessened its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.8% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 229,645 shares of the financial services provider’s stock after selling 6,600 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Sun Life Financial were worth $11,258,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of SLF. Voisard Asset Management Group Inc. acquired a new position in shares of Sun Life Financial in the fourth quarter worth about $26,000. GAMMA Investing LLC raised its holdings in 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 purchasing an additional 562 shares during the period. Northwest Financial Advisors acquired a new position in Sun Life Financial in the 4th quarter worth about $29,000. Private Wealth Management Group LLC purchased a new position in Sun Life Financial during the fourth quarter worth approximately $41,000. Finally, Headlands Technologies LLC acquired a new stake in Sun Life Financial in the fourth quarter valued at approximately $43,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analyst Ratings Changes

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

Sun Life Financial Stock Up 2.2 %

Shares of NYSE SLF traded up $1.15 during trading on Friday, hitting $54.49. The company had a trading volume of 523,880 shares, compared to its average volume of 695,002. The firm has a market capitalization of $31.48 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99. The stock has a fifty day simple moving average of $49.64 and a two-hundred day simple moving average of $51.38. 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 disclosed a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Wednesday, August 28th will be issued a $0.587 dividend. This represents a $2.35 annualized dividend and a yield of 4.31%. The ex-dividend date of this dividend is Wednesday, August 28th. Sun Life Financial’s payout ratio is 60.10%.

Sun Life Financial 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.