Sun Life Financial Inc. (NYSE:SLF) Stock Holdings Lessened by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership cut its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 46.4% in the 4th quarter, HoldingsChannel.com reports. The fund owned 801,370 shares of the financial services provider’s stock after selling 693,290 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Sun Life Financial were worth $47,523,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SLF. Human Investing LLC acquired a new position in shares of Sun Life Financial in the 4th quarter valued at $26,000. Asset Planning Inc purchased a new stake in Sun Life Financial during the fourth quarter valued at about $40,000. BankPlus Trust Department purchased a new position in shares of Sun Life Financial in the fourth quarter worth approximately $40,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Sun Life Financial during the fourth quarter valued at approximately $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Sun Life Financial in the 3rd quarter valued at approximately $51,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Cormark upgraded Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Finally, StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $58.11 on Wednesday. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85. The firm has a market cap of $33.17 billion, a PE ratio of 15.13, a P/E/G ratio of 1.52 and a beta of 1.04. The firm’s 50 day moving average price is $56.64 and its two-hundred day moving average price is $58.00.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. Equities analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th were issued a dividend of $0.5876 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This represents a $2.35 annualized dividend and a dividend yield of 4.04%. Sun Life Financial’s dividend payout ratio is 60.16%.

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.