Sun Life Financial (NYSE:SLF) Sees Unusually-High Trading Volume – Should You Buy?

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) shares saw strong trading volume on Monday . 3,725,023 shares changed hands during trading, an increase of 456% from the previous session’s volume of 669,699 shares.The stock last traded at $61.57 and had previously closed at $61.18.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SLF shares. Barclays assumed coverage on Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating on the stock. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

Sun Life Financial Price Performance

The company has a fifty day moving average of $58.18 and a two-hundred day moving average of $53.38. The stock 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be issued a $0.621 dividend. The ex-dividend date is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a dividend yield of 4.08%. Sun Life Financial’s payout ratio is 52.34%.

Hedge Funds Weigh In On Sun Life Financial

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake 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 valued at $28,000 after acquiring an additional 562 shares in the last quarter. Assetmark Inc. boosted its holdings in Sun Life Financial by 2,747.4% during the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after buying an additional 522 shares in the last quarter. Addison Advisors LLC grew its position in Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after buying an additional 361 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in Sun Life Financial during the 2nd quarter worth about $39,000. Finally, Clean Yield Group purchased a new stake in shares of Sun Life Financial in the 3rd quarter valued at approximately $39,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

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.