Sumitomo Mitsui Trust Holdings Inc. Sells 28,010 Shares of Sun Life Financial Inc. (NYSE:SLF)

Sumitomo Mitsui Trust Holdings Inc. lessened its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,491,459 shares of the financial services provider’s stock after selling 28,010 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Sun Life Financial were worth $77,605,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Raymond James & Associates boosted its stake in shares of Sun Life Financial by 2.0% during the 1st quarter. Raymond James & Associates now owns 31,331 shares of the financial services provider’s stock valued at $1,749,000 after purchasing an additional 614 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Sun Life Financial by 1.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 24,648 shares of the financial services provider’s stock valued at $1,376,000 after purchasing an additional 269 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Sun Life Financial by 3.5% during the 1st quarter. American Century Companies Inc. now owns 34,234 shares of the financial services provider’s stock valued at $1,911,000 after purchasing an additional 1,144 shares in the last quarter. Natixis Advisors L.P. boosted its stake in shares of Sun Life Financial by 9.4% during the 1st quarter. Natixis Advisors L.P. now owns 14,075 shares of the financial services provider’s stock valued at $786,000 after purchasing an additional 1,207 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of Sun Life Financial during the 1st quarter valued at about $67,000. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

NYSE:SLF opened at $50.22 on Thursday. Sun Life Financial Inc. has a one year low of $44.57 and a one year high of $55.46. The company’s 50-day simple moving average is $53.65 and its 200 day simple moving average is $51.19. The firm has a market capitalization of $29.25 billion, a P/E ratio of 12.94, a PEG ratio of 1.24 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, February 7th. The financial services provider reported $1.23 EPS for the quarter, topping the consensus estimate of $1.17 by $0.06. Sun Life Financial had a net margin of 7.79% and a return on equity of 17.30%. The business had revenue of $13.73 billion for the quarter. On average, equities research analysts expect that Sun Life Financial Inc. will post 5.06 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, February 28th were issued a $0.581 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.56. This represents a $2.32 annualized dividend and a yield of 4.63%. Sun Life Financial’s payout ratio is 59.79%.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group assumed coverage on shares of Sun Life Financial in a research note on Thursday, February 22nd. They set a “buy” rating on the stock.

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.