Motco decreased its stake in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 0.4% during the first quarter, Holdings Channel reports. The firm owned 92,918 shares of the financial services provider’s stock after selling 392 shares during the period. Motco’s holdings in Sun Life Financial were worth $3,396,000 as of its most recent filing with the SEC.

Several other hedge funds also recently added to or reduced their stakes in SLF. Quantitative Systematic Strategies LLC bought a new stake in Sun Life Financial during the first quarter valued at about $877,000. Beutel Goodman & Co Ltd. bought a new stake in Sun Life Financial during the first quarter valued at about $221,905,000. Capstone Asset Management Co. increased its stake in Sun Life Financial by 5.1% in the first quarter. Capstone Asset Management Co. now owns 75,259 shares of the financial services provider’s stock valued at $2,751,000 after buying an additional 3,680 shares during the period. Gulf International Bank UK Ltd increased its stake in Sun Life Financial by 1.2% in the first quarter. Gulf International Bank UK Ltd now owns 192,919 shares of the financial services provider’s stock valued at $7,034,000 after buying an additional 2,200 shares during the period. Finally, Franklin Street Advisors Inc. NC bought a new stake in Sun Life Financial during the first quarter valued at about $373,000. Institutional investors own 44.41% of the company’s stock.

Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

Sun Life Financial Inc (NYSE:SLF) remained flat at $35.46 during trading on Friday. 228,915 shares of the company were exchanged. Sun Life Financial Inc has a 52-week low of $30.38 and a 52-week high of $40.57. The stock’s 50-day moving average is $36.11 and its 200-day moving average is $36.96. The company has a market cap of $21.76 billion, a PE ratio of 11.81 and a beta of 1.14.

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Friday, March 3rd were given a dividend of $0.321 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a yield of 3.62%. The ex-dividend date was Wednesday, March 1st. Sun Life Financial’s payout ratio is currently 44.48%.

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SLF has been the subject of several research analyst reports. Zacks Investment Research raised Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Thursday, March 2nd. Royal Bank of Canada cut Sun Life Financial from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $53.00 to $51.00 in a research report on Friday, February 17th. Scotiabank cut Sun Life Financial from a “sector outperform” rating to a “sector perform” rating in a research report on Thursday, February 16th. Finally, Argus cut Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Saturday, December 31st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Sun Life Financial presently has a consensus rating of “Hold” and a consensus price target of $46.10.

About Sun Life Financial

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

5 Day Chart for NYSE:SLF

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