MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH Acquires 4,883 Shares of Sun Life Financial Inc. (NYSE:SLF)

MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH boosted its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 16.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,563 shares of the financial services provider’s stock after acquiring an additional 4,883 shares during the quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH’s holdings in Sun Life Financial were worth $1,694,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SLF. Voisard Asset Management Group Inc. bought a new position in Sun Life Financial in the 4th quarter valued at approximately $26,000. GAMMA Investing LLC raised its stake in Sun Life Financial by 6,244.4% during the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after buying an additional 562 shares during the last quarter. Northwest Financial Advisors purchased a new stake in Sun Life Financial during the 4th quarter valued at $29,000. Ridgewood Investments LLC purchased a new stake in Sun Life Financial during the 2nd quarter valued at $39,000. Finally, Private Wealth Management Group LLC purchased a new stake in Sun Life Financial during the 4th quarter valued at $41,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Price Performance

Shares of NYSE:SLF traded up $0.35 during midday trading on Friday, hitting $54.52. The company had a trading volume of 332,097 shares, compared to its average volume of 881,366. The company has a market cap of $31.49 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.40 and a beta of 0.99. Sun Life Financial Inc. has a 12-month low of $44.57 and a 12-month high of $55.46. The company has a fifty day moving average of $50.26 and a two-hundred day moving average of $51.44.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th will be paid a $0.587 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $2.35 annualized dividend and a dividend yield of 4.31%. Sun Life Financial’s dividend payout ratio (DPR) is 60.10%.

Wall Street Analysts Forecast Growth

Separately, Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research note on Monday, June 3rd.

Sun Life Financial 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.