Swiss National Bank Grows Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Swiss National Bank boosted its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,749,100 shares of the financial services provider’s stock after buying an additional 1,900 shares during the period. Swiss National Bank owned approximately 0.28% of Sun Life Financial worth $101,620,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its stake in Sun Life Financial by 3.8% in the first quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock worth $34,474,000 after purchasing an additional 23,235 shares during the period. Cetera Investment Advisers increased its stake in Sun Life Financial by 108.3% in the first quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock worth $3,506,000 after purchasing an additional 33,401 shares during the period. Tyler Stone Wealth Management increased its stake in Sun Life Financial by 100.0% in the third quarter. Tyler Stone Wealth Management now owns 17,454 shares of the financial services provider’s stock worth $1,013,000 after purchasing an additional 8,727 shares during the period. Bessemer Group Inc. increased its stake in Sun Life Financial by 845.9% in the first quarter. Bessemer Group Inc. now owns 20,478 shares of the financial services provider’s stock worth $1,117,000 after purchasing an additional 18,313 shares during the period. Finally, M&G Plc purchased a new stake in Sun Life Financial in the second quarter worth $1,520,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SLF shares. Barclays started coverage on Sun Life Financial in a research note on Thursday, September 5th. They set an “equal weight” rating on the stock. StockNews.com upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at $60.63 on Tuesday. The company has a market capitalization of $38.20 billion, a PE ratio of 13.50, a P/E/G ratio of 1.55 and a beta of 1.01. The company has a 50-day simple moving average of $57.46 and a two-hundred day simple moving average of $52.97. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $61.61.

Sun Life Financial Increases Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, November 27th. 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 4.10%. Sun Life Financial’s payout ratio is currently 55.23%.

Sun Life Financial Company 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.