Northwest & Ethical Investments L.P. Has $34.19 Million Stock Holdings in Sun Life Financial Inc. (NYSE:SLF)

Northwest & Ethical Investments L.P. decreased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 589,272 shares of the financial services provider’s stock after selling 11,888 shares during the period. Sun Life Financial makes up about 0.9% of Northwest & Ethical Investments L.P.’s portfolio, making the stock its 18th biggest position. Northwest & Ethical Investments L.P.’s holdings in Sun Life Financial were worth $34,185,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Assetmark Inc. lifted its stake in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 522 shares during the last quarter. GAMMA Investing LLC lifted its holdings 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 worth $28,000 after buying an additional 562 shares during the period. Addison Advisors LLC grew its position 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 valued at $38,000 after buying an additional 361 shares during the last quarter. Clean Yield Group acquired a new stake in shares of Sun Life Financial in the third quarter valued at about $39,000. Finally, Ridgewood Investments LLC bought a new position in shares of Sun Life Financial during the second quarter worth about $39,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on SLF. Barclays started coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock traded down $0.58 on Thursday, reaching $60.93. 312,247 shares of the company’s stock were exchanged, compared to its average volume of 670,378. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $61.86. The firm’s 50-day moving average is $58.18 and its two-hundred day moving average is $53.38. The company has a market capitalization of $35.08 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 annualized dividend and a dividend yield of 4.08%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio is currently 52.34%.

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.