Independent Advisor Alliance Buys 1,828 Shares of Sun Life Financial Inc. (NYSE:SLF)

Independent Advisor Alliance lifted its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,382 shares of the financial services provider’s stock after purchasing an additional 1,828 shares during the quarter. Independent Advisor Alliance’s holdings in Sun Life Financial were worth $834,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of SLF. GAMMA Investing LLC raised its holdings in 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 buying an additional 562 shares during the last quarter. Assetmark Inc. raised its holdings in Sun Life Financial by 2,747.4% in 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 during the last quarter. Addison Advisors LLC lifted its position in 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 acquiring an additional 361 shares in the last quarter. Ridgewood Investments LLC purchased a new stake in Sun Life Financial during the 2nd quarter valued at $39,000. Finally, Clean Yield Group bought a new stake in shares of Sun Life Financial in the 3rd quarter worth $39,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

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

Sun Life Financial Stock Down 0.9 %

Shares of SLF opened at $60.93 on Thursday. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $61.86. The stock has a market cap of $35.08 billion, a price-to-earnings ratio of 13.57, a PEG ratio of 1.59 and a beta of 1.01. The business has a 50-day simple moving average of $58.18 and a two-hundred day simple moving average of $53.38.

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 paid a dividend of $0.621 per share. This is a boost 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 4.08%. Sun Life Financial’s dividend payout ratio (DPR) is presently 52.34%.

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.