Verition Fund Management LLC Buys New Shares in Sun Life Financial Inc. (NYSE:SLF)

Verition Fund Management LLC purchased a new position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,624 shares of the financial services provider's stock, valued at approximately $1,255,000.

A number of other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Sun Life Financial by 6,244.4% during the second 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 during the last quarter. Assetmark Inc. increased its position 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 valued at $31,000 after purchasing an additional 522 shares during the last quarter. Addison Advisors LLC raised its stake in shares of Sun Life Financial by 124.9% during the 3rd 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 period. Ridgewood Investments LLC purchased a new position in shares of Sun Life Financial in the 2nd quarter worth about $39,000. Finally, Clean Yield Group bought a new position in Sun Life Financial during the third quarter valued at about $39,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLF has been the topic of several research reports. StockNews.com lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Tuesday, November 19th. Barclays initiated coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an "equal weight" rating on the stock.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock traded down $0.55 during trading hours on Friday, reaching $62.14. The company had a trading volume of 813,355 shares, compared to its average volume of 726,273. The firm has a market cap of $35.77 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 1.59 and a beta of 1.03. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $62.85. The business has a fifty day simple moving average of $58.80 and a 200 day simple moving average of $53.92.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be given a $0.621 dividend. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial's dividend payout ratio (DPR) is 55.23%.

Sun Life Financial 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.