Sun Life Financial Inc. (NYSE:SLF) Shares Sold by LGT Group Foundation

LGT Group Foundation cut its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 8.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 327,036 shares of the financial services provider's stock after selling 28,264 shares during the quarter. LGT Group Foundation owned 0.06% of Sun Life Financial worth $16,813,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Addenda Capital Inc. increased its stake in shares of Sun Life Financial by 21.1% in the 4th quarter. Addenda Capital Inc. now owns 148,679 shares of the financial services provider's stock valued at $7,710,000 after purchasing an additional 25,886 shares during the last quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH bought a new position in Sun Life Financial in the fourth quarter valued at about $2,299,000. International Assets Investment Management LLC acquired a new position in Sun Life Financial during the fourth quarter worth about $2,138,000. Wellington Management Group LLP bought a new position in shares of Sun Life Financial in the third quarter worth about $3,610,000. Finally, Barometer Capital Management Inc. grew its holdings in shares of Sun Life Financial by 7.2% during the 3rd quarter. Barometer Capital Management Inc. now owns 151,850 shares of the financial services provider's stock valued at $7,410,000 after purchasing an additional 10,200 shares during the last quarter. Institutional investors own 52.26% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group assumed coverage on Sun Life Financial in a research note on Thursday, February 22nd. They issued a "buy" rating for the company.

Sun Life Financial Stock Up 1.1 %

Sun Life Financial stock traded up $0.57 during trading hours on Thursday, reaching $52.06. 342,968 shares of the company's stock were exchanged, compared to its average volume of 607,653. The firm has a market capitalization of $30.32 billion, a PE ratio of 13.27, a PEG ratio of 1.27 and a beta of 1.00. The firm's 50 day simple moving average is $53.28 and its 200 day simple moving average is $51.41. Sun Life Financial Inc. has a twelve month low of $44.57 and a twelve month high of $55.46.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results on Wednesday, February 7th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.06. The firm had revenue of $13.73 billion for the quarter. Sun Life Financial had a return on equity of 17.30% and a net margin of 7.79%. Analysts anticipate that Sun Life Financial Inc. will post 5.03 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were given a $0.581 dividend. This represents a $2.32 dividend on an annualized basis and a yield of 4.46%. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.56. The ex-dividend date was Tuesday, February 27th. Sun Life Financial's payout ratio is presently 59.79%.

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.