Geode Capital Management LLC Buys 207,832 Shares of Sun Life Financial Inc. (NYSE:SLF)

Geode Capital Management LLC raised its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 8.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,654,586 shares of the financial services provider’s stock after acquiring an additional 207,832 shares during the quarter. Geode Capital Management LLC’s holdings in Sun Life Financial were worth $156,127,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. lifted its holdings in Sun Life Financial by 0.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock valued at $3,635,000 after purchasing an additional 200 shares during the last quarter. Verdence Capital Advisors LLC increased its holdings in shares of Sun Life Financial by 1.8% during the second quarter. Verdence Capital Advisors LLC now owns 12,160 shares of the financial services provider’s stock worth $596,000 after buying an additional 219 shares in the last quarter. State Street Corp raised its stake in shares of Sun Life Financial by 0.8% in the third quarter. State Street Corp now owns 39,478 shares of the financial services provider’s stock valued at $2,291,000 after acquiring an additional 330 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Sun Life Financial by 124.9% in the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 361 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Sun Life Financial by 1.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 33,507 shares of the financial services provider’s stock worth $1,642,000 after acquiring an additional 426 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on SLF shares. Barclays assumed coverage on 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 report on Tuesday, November 19th.

Sun Life Financial Trading Down 0.1 %

Shares of SLF stock opened at $60.06 on Tuesday. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $62.85. The firm’s 50 day moving average is $59.13 and its 200-day moving average is $54.36. The firm has a market capitalization of $34.58 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.55 and a beta of 1.03.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.14%. Sun Life Financial’s dividend payout ratio is currently 55.23%.

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.