Fmr LLC Increases Stake in Sun Life Financial Inc. (NYSE:SLF)

Fmr LLC increased its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,189,939 shares of the financial services provider’s stock after purchasing an additional 257,178 shares during the period. Fmr LLC owned approximately 0.82% of Sun Life Financial worth $301,047,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SLF. The Manufacturers Life Insurance Company grew its stake in shares of Sun Life Financial by 13.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock valued at $421,167,000 after buying an additional 1,049,244 shares during the last quarter. CIBC Asset Management Inc increased its stake in Sun Life Financial by 16.5% in 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 purchasing an additional 905,679 shares during the period. Intact Investment Management Inc. boosted its stake in shares of Sun Life Financial by 423.9% during the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock valued at $49,909,000 after purchasing an additional 823,670 shares during the period. AGF Management Ltd. grew its holdings in shares of Sun Life Financial by 46.5% in the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock worth $135,816,000 after purchasing an additional 797,901 shares during the last quarter. Finally, 1832 Asset Management L.P. increased its stake in Sun Life Financial by 5.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider’s stock worth $500,492,000 after buying an additional 499,009 shares during the period. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock opened at $61.39 on Friday. The stock has a market cap of $35.34 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.57 and a beta of 1.01. The firm’s 50-day moving average is $58.36 and its two-hundred day moving average is $53.53. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $61.86.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. This represents a $2.48 annualized dividend and a yield of 4.05%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 55.23%.

Analysts Set New Price Targets

SLF has been the subject of several research reports. Barclays started 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 cut Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

Sun Life Financial Company 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.