Raymond James Financial Services Advisors Inc. Reduces Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Raymond James Financial Services Advisors Inc. lowered its position in Sun Life Financial Inc. (NYSE:SLFGet Rating) (TSE:SLF) by 6.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 26,487 shares of the financial services provider’s stock after selling 1,697 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Sun Life Financial were worth $1,053,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Achmea Investment Management B.V. purchased a new position in shares of Sun Life Financial in the first quarter valued at $32,000. Banque Cantonale Vaudoise purchased a new position in shares of Sun Life Financial in the second quarter valued at $27,000. Hexagon Capital Partners LLC increased its position in shares of Sun Life Financial by 79,300.0% in the third quarter. Hexagon Capital Partners LLC now owns 794 shares of the financial services provider’s stock valued at $32,000 after buying an additional 793 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Sun Life Financial in the first quarter valued at $67,000. Finally, Meeder Asset Management Inc. increased its position in shares of Sun Life Financial by 191.1% in the second quarter. Meeder Asset Management Inc. now owns 1,275 shares of the financial services provider’s stock valued at $58,000 after buying an additional 837 shares in the last quarter. Hedge funds and other institutional investors own 44.94% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. StockNews.com assumed coverage on Sun Life Financial in a research note on Wednesday, October 12th. They set a “hold” rating on the stock. Barclays decreased their price objective on Sun Life Financial from C$67.00 to C$63.00 in a research note on Wednesday, October 12th. Royal Bank of Canada decreased their price objective on Sun Life Financial from C$78.00 to C$75.00 in a research note on Friday, November 4th. Credit Suisse Group assumed coverage on Sun Life Financial in a research note on Thursday, January 12th. They set an “outperform” rating on the stock. Finally, National Bank Financial decreased their price objective on Sun Life Financial from C$67.00 to C$65.00 in a research note on Friday, October 28th.

Sun Life Financial Trading Up 2.1 %

Shares of NYSE:SLF opened at $49.01 on Friday. The stock’s 50-day moving average price is $46.74 and its two-hundred day moving average price is $44.87. Sun Life Financial Inc. has a 12-month low of $37.96 and a 12-month high of $58.49. The firm has a market cap of $28.74 billion, a price-to-earnings ratio of 11.50, a PEG ratio of 1.17 and a beta of 1.00.

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) last issued its quarterly earnings results on Wednesday, November 2nd. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.17. Sun Life Financial had a return on equity of 13.30% and a net margin of 13.67%. The firm had revenue of $6.62 billion for the quarter. As a group, research analysts forecast that Sun Life Financial Inc. will post 4.47 earnings per share for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 30th. Shareholders of record on Wednesday, November 23rd were paid a $0.528 dividend. This represents a $2.11 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date was Tuesday, November 22nd. Sun Life Financial’s payout ratio is 49.53%.

About Sun Life Financial

(Get Rating)

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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