Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Citigroup Inc.

Citigroup Inc. reduced its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 93,568 shares of the financial services provider’s stock after selling 4,600 shares during the quarter. Citigroup Inc.’s holdings in Sun Life Financial were worth $5,434,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in SLF. Cetera Investment Advisers grew its holdings in shares of Sun Life Financial by 108.3% in the 1st quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock worth $3,506,000 after acquiring an additional 33,401 shares during the period. Tyler Stone Wealth Management increased its position in shares of Sun Life Financial by 100.0% in the third quarter. Tyler Stone Wealth Management now owns 17,454 shares of the financial services provider’s stock worth $1,013,000 after acquiring an additional 8,727 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Sun Life Financial by 5.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,580,531 shares of the financial services provider’s stock valued at $91,778,000 after buying an additional 79,155 shares in the last quarter. M&G Plc purchased a new position in shares of Sun Life Financial in the second quarter valued at $1,520,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Sun Life Financial by 10.4% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,681,115 shares of the financial services provider’s stock valued at $131,480,000 after purchasing an additional 252,671 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Sun Life Financial stock opened at $61.39 on Monday. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $61.86. The company has a market cap of $35.34 billion, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The firm’s 50 day simple moving average is $58.36 and its 200-day simple moving average is $53.55.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.621 per share. The ex-dividend date is 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 yield of 4.05%. Sun Life Financial’s dividend payout ratio (DPR) is presently 55.23%.

Wall Street Analysts Forecast Growth

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

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.