Canopy Partners LLC Makes New Investment in Sun Life Financial Inc. (NYSE:SLF)

Canopy Partners LLC bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,941 shares of the financial services provider’s stock, valued at approximately $229,000.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its holdings in Sun Life Financial by 6,244.4% during the second 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 last quarter. Assetmark Inc. increased its stake in shares of Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 522 shares during the last quarter. Addison Advisors LLC raised 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 purchasing an additional 361 shares during the period. Ridgewood Investments LLC purchased a new position in Sun Life Financial in the second quarter valued at approximately $39,000. Finally, Clean Yield Group bought a new position in Sun Life Financial during the third quarter valued at $39,000. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $61.18 on Friday. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $61.86. The firm has a market capitalization of $35.22 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.58 and a beta of 1.01. The company’s fifty day moving average price is $57.89 and its 200-day moving average price is $53.19.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given 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 of this dividend is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.06%. Sun Life Financial’s dividend payout ratio (DPR) is presently 52.34%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SLF shares. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays initiated coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company.

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.