Forsta AP Fonden Lowers Position in Sun Life Financial Inc. (NYSE:SLF)

Forsta AP Fonden cut its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.5% in the fourth quarter, Holdings Channel reports. The fund owned 280,100 shares of the financial services provider’s stock after selling 7,200 shares during the quarter. Forsta AP Fonden’s holdings in Sun Life Financial were worth $16,623,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Assetmark Inc. lifted its position in shares of Sun Life Financial by 2,747.4% during the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after buying an additional 522 shares during the last quarter. Addison Advisors LLC lifted its position in shares of Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after buying an additional 361 shares during the last quarter. Clean Yield Group purchased a new stake in shares of Sun Life Financial during the third quarter valued at about $39,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Sun Life Financial during the fourth quarter valued at about $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Sun Life Financial during the third quarter valued at about $51,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com raised Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Monday. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy”.

Sun Life Financial Trading Up 0.1 %

NYSE:SLF opened at $58.59 on Thursday. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85. The company has a market cap of $33.62 billion, a PE ratio of 13.05, a P/E/G ratio of 1.58 and a beta of 1.03. The company’s 50 day moving average is $59.73 and its two-hundred day moving average is $56.50.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.621 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.24%. Sun Life Financial’s payout ratio is 57.46%.

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.