Sun Life Financial Inc. (NYSE:SLF) Shares Sold by UBS Group AG

UBS Group AG trimmed its position in Sun Life Financial Inc. (NYSE:SLF – Get Rating) (TSE:SLF) by 38.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 219,321 shares of the financial services provider’s stock after selling 137,767 shares during the period. UBS Group AG’s holdings in Sun Life Financial were worth $10,181,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SLF. Edmond DE Rothschild Holding S.A. acquired a new stake in Sun Life Financial in the 3rd quarter worth about $26,000. Achmea Investment Management B.V. acquired a new position in Sun Life Financial in the first quarter valued at approximately $32,000. AdvisorNet Financial Inc lifted its holdings in Sun Life Financial by 76.9% in the fourth quarter. AdvisorNet Financial Inc now owns 835 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 363 shares during the last quarter. Cowa LLC acquired a new position in Sun Life Financial in the third quarter valued at approximately $40,000. Finally, Oxler Private Wealth LLC acquired a new position in Sun Life Financial in the third quarter valued at approximately $44,000. 44.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SLF. TD Securities boosted their target price on Sun Life Financial from C$68.00 to C$71.00 in a research report on Friday, February 10th. Credit Suisse Group upped their price objective on Sun Life Financial from C$74.00 to C$75.00 in a research report on Friday, February 10th. BMO Capital Markets upped their price objective on Sun Life Financial from C$76.00 to C$78.00 in a research report on Friday, February 10th. Scotiabank upped their price objective on Sun Life Financial from C$71.00 to C$75.00 in a research report on Friday, February 10th. Finally, Royal Bank of Canada upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Monday, May 15th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $72.78.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $49.90 on Tuesday. The stock’s 50-day moving average is $47.41 and its two-hundred day moving average is $47.59. The firm has a market cap of $29.28 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 1.31 and a beta of 1.00. Sun Life Financial Inc. has a 1 year low of $37.96 and a 1 year high of $51.63.

Sun Life Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Wednesday, May 31st will be issued a dividend of $0.554 per share. This represents a $2.22 annualized dividend and a dividend yield of 4.44%. The ex-dividend date is Tuesday, May 30th. Sun Life Financial’s payout ratio is 54.66%.

About Sun Life Financial

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Sun Life Financial, Inc engages in the provision of insurance and asset management solutions to individual and corporate clients. It operates through the following segments: Canada, United States, Asset Management, Asia, and Corporate. The Canada segment offers individual insurance and group benefits and retirement services.