Triasima Portfolio Management inc. Has $2.08 Million Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Triasima Portfolio Management inc. lowered its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 93.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,340 shares of the financial services provider’s stock after selling 566,420 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Sun Life Financial were worth $2,075,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SLF. Caprock Group LLC bought a new stake in Sun Life Financial in the 2nd quarter valued at about $262,000. Candriam S.C.A. boosted its stake in shares of Sun Life Financial by 12.5% in the second quarter. Candriam S.C.A. now owns 12,092 shares of the financial services provider’s stock valued at $593,000 after buying an additional 1,342 shares during the period. Fiera Capital Corp boosted its stake in shares of Sun Life Financial by 3.0% in the second quarter. Fiera Capital Corp now owns 850,638 shares of the financial services provider’s stock valued at $41,726,000 after buying an additional 24,911 shares during the period. CIBC Asset Management Inc grew its position in Sun Life Financial by 16.5% during the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock worth $313,976,000 after buying an additional 905,679 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in Sun Life Financial by 5.3% during the 2nd quarter. Natixis Advisors LLC now owns 38,160 shares of the financial services provider’s stock worth $1,869,000 after acquiring an additional 1,923 shares during the period. Institutional investors own 52.26% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SLF. Barclays assumed coverage on Sun Life Financial in a research report on Thursday. They set an “equal weight” rating for the company. Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research note on Monday, June 3rd.

Sun Life Financial Trading Down 0.9 %

NYSE SLF traded down $0.51 on Friday, hitting $54.62. 465,686 shares of the company’s stock were exchanged, compared to its average volume of 804,416. The stock has a 50-day moving average of $50.85 and a 200-day moving average of $51.49. The stock has a market cap of $31.67 billion, a price-to-earnings ratio of 13.97, a P/E/G ratio of 1.42 and a beta of 1.00. Sun Life Financial Inc. has a 52 week low of $44.57 and a 52 week high of $55.65.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Sun Life Financial had a return on equity of 17.47% and a net margin of 8.60%. As a group, analysts predict that Sun Life Financial Inc. will post 4.86 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The business also recently declared 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 of this dividend is Wednesday, August 28th. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.30%. Sun Life Financial’s payout ratio is currently 59.85%.

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.