42,116 Shares in Sun Life Financial Inc. (NYSE:SLF) Purchased by Avanza Fonder AB

Avanza Fonder AB purchased a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,116 shares of the financial services provider’s stock, valued at approximately $2,499,000.

Other institutional investors have also 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 acquiring an additional 522 shares in the last quarter. Addison Advisors LLC increased 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 purchasing an additional 361 shares during the last quarter. Clean Yield Group purchased a new stake in Sun Life Financial during the third quarter valued at $39,000. Dixon Mitchell Investment Counsel Inc. bought a new position in Sun Life Financial during the fourth quarter valued at $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Sun Life Financial in the 3rd quarter worth $51,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SLF. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sun Life Financial has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Down 0.4 %

NYSE SLF opened at $58.83 on Friday. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85. The firm has a market capitalization of $33.85 billion, a price-to-earnings ratio of 13.10, a PEG ratio of 1.53 and a beta of 1.03. The company has a fifty day moving average of $59.96 and a two-hundred day moving average of $55.89.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th were issued a dividend of $0.621 per share. This represents a $2.48 annualized dividend and a yield of 4.22%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is presently 57.46%.

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.