Sun Life Financial Inc. (NYSE:SLF) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 25.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,884 shares of the financial services provider’s stock after selling 2,386 shares during the quarter. King Luther Capital Management Corp’s holdings in Sun Life Financial were worth $399,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in shares of Sun Life Financial by 6,244.4% during the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 562 shares during the period. Assetmark Inc. increased 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 worth $31,000 after acquiring an additional 522 shares during the last quarter. Addison Advisors LLC lifted its stake in shares of Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 361 shares in the last quarter. Ridgewood Investments LLC purchased a new position in Sun Life Financial in the second quarter valued at about $39,000. Finally, Clean Yield Group acquired a new stake in shares of Sun Life Financial during the third quarter worth approximately $39,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Down 0.3 %

Shares of NYSE SLF opened at $61.18 on Friday. The firm’s 50-day moving average price is $57.89 and its two-hundred day moving average price is $53.19. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $61.86. The stock has a market capitalization of $35.22 billion, a P/E ratio of 13.63, a P/E/G ratio of 1.58 and a beta of 1.01.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be issued a $0.621 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 annualized dividend and a dividend yield of 4.06%. Sun Life Financial’s dividend payout ratio (DPR) is 52.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Barclays assumed coverage on Sun Life Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company.

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.