UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 92,388 Shares of Sun Life Financial Inc. (NYSE:SLF)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,125,104 shares of the financial services provider’s stock after selling 92,388 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Sun Life Financial were worth $65,279,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of SLF. Assenagon Asset Management S.A. grew its position in Sun Life Financial by 0.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock worth $3,635,000 after acquiring an additional 200 shares during the last quarter. Verdence Capital Advisors LLC boosted its stake in Sun Life Financial by 1.8% in the second quarter. Verdence Capital Advisors LLC now owns 12,160 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 219 shares in the last quarter. Addison Advisors LLC grew its holdings in shares of Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 361 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Sun Life Financial by 1.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 33,507 shares of the financial services provider’s stock worth $1,642,000 after purchasing an additional 426 shares during the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in shares of Sun Life Financial by 9.5% in the second quarter. Evergreen Capital Management LLC now owns 5,373 shares of the financial services provider’s stock valued at $263,000 after buying an additional 466 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sun Life Financial Stock Up 0.6 %

Shares of SLF opened at $61.74 on Tuesday. The stock’s fifty day simple moving average is $58.36 and its 200-day simple moving average is $53.55. The firm has a market capitalization of $35.54 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $61.86.

Sun Life Financial Increases Dividend

The firm also recently announced 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 an increase 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 4.02%. Sun Life Financial’s dividend payout ratio is presently 55.23%.

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.