Avanza Fonder AB Makes New $2.50 Million Investment in Sun Life Financial Inc. (NYSE:SLF)

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

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in shares of Sun Life Financial by 0.3% in the third quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider's stock valued at $3,635,000 after buying an additional 200 shares during the period. State Street Corp raised its position in Sun Life Financial by 0.8% in the third quarter. State Street Corp now owns 39,478 shares of the financial services provider's stock worth $2,291,000 after acquiring an additional 330 shares in the last quarter. Addison Advisors LLC lifted its holdings 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 during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Sun Life Financial by 1.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 33,507 shares of the financial services provider's stock valued at $1,642,000 after purchasing an additional 426 shares in the last quarter. Finally, Evergreen Capital Management LLC grew its stake in shares of Sun Life Financial by 9.5% in the 2nd quarter. Evergreen Capital Management LLC now owns 5,373 shares of the financial services provider's stock worth $263,000 after purchasing an additional 466 shares during the last quarter. 52.26% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. National Bank Financial upgraded shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research report on Wednesday. StockNews.com cut Sun Life Financial from a "buy" rating to a "hold" rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy".

Sun Life Financial Stock Down 0.4 %

Shares of Sun Life Financial stock traded down $0.23 during trading on Friday, hitting $58.83. The stock had a trading volume of 359,340 shares, compared to its average volume of 406,173. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $62.85. The stock has a 50 day simple moving average of $59.95 and a 200 day simple moving average of $55.96. The company has a market capitalization of $33.85 billion, a PE ratio of 13.10, a P/E/G ratio of 1.53 and a beta of 1.03.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th were issued a dividend of $0.621 per share. 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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.22%. Sun Life Financial's payout ratio is currently 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.