Sun Life Financial (NYSE:SLF) Sees Large Volume Increase – Here’s What Happened

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) shares saw unusually-strong trading volume on Monday . Approximately 3,725,023 shares were traded during mid-day 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.

Analyst Ratings Changes

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

Sun Life Financial Price Performance

The firm has a market capitalization of $35.45 billion, a P/E ratio of 13.63, a PEG ratio of 1.58 and a beta of 1.01. The firm’s 50 day moving average is $57.89 and its two-hundred day moving average is $53.19.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a $0.621 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.03%. The ex-dividend date is Wednesday, November 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio is 52.34%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. raised its holdings 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 buying an additional 522 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 562 shares during the last quarter. Addison Advisors LLC boosted its stake 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 purchasing an additional 361 shares in the last quarter. Clean Yield Group bought a new stake in shares of Sun Life Financial during the 3rd quarter valued at approximately $39,000. Finally, Ridgewood Investments LLC acquired a new position in Sun Life Financial during the 2nd quarter worth approximately $39,000. 52.26% of the stock is owned by institutional investors and hedge funds.

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.