Quadrature Capital Ltd Purchases Shares of 111,200 Sun Life Financial Inc. (NYSE:SLF)

Quadrature Capital Ltd acquired a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 111,200 shares of the financial services provider’s stock, valued at approximately $6,458,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantinno Capital Management LP boosted its position in shares of Sun Life Financial by 4.6% during the third quarter. Quantinno Capital Management LP now owns 78,102 shares of the financial services provider’s stock valued at $4,532,000 after purchasing an additional 3,451 shares in the last quarter. Benjamin Edwards Inc. bought a new stake in shares of Sun Life Financial during the 3rd quarter valued at $219,000. Erste Asset Management GmbH purchased a new stake in Sun Life Financial in the third quarter worth about $1,632,000. Verition Fund Management LLC bought a new position in shares of Sun Life Financial during the third quarter valued at approximately $1,255,000. Finally, Financial Counselors Inc. lifted its holdings in shares of Sun Life Financial by 29.3% during the third quarter. Financial Counselors Inc. now owns 7,823 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 1,774 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLF has been the topic of several recent research reports. Barclays assumed coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. 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 Stock Performance

Shares of NYSE SLF opened at $62.69 on Friday. The company has a market cap of $36.09 billion, a PE ratio of 13.96, a P/E/G ratio of 1.58 and a beta of 1.03. The firm’s 50 day moving average price is $58.71 and its 200-day moving average price is $53.81. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $62.85.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a $0.621 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s payout ratio is currently 55.23%.

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.