Cerity Partners LLC Buys 14,034 Shares of Sun Life Financial Inc. (NYSE:SLF)

Cerity Partners LLC lifted its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 88.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,815 shares of the financial services provider's stock after acquiring an additional 14,034 shares during the period. Cerity Partners LLC's holdings in Sun Life Financial were worth $1,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Assetmark Inc. raised its position in Sun Life Financial by 2,747.4% in the third 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. GAMMA Investing LLC lifted its stake in 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 purchasing an additional 562 shares during the last quarter. Addison Advisors LLC boosted its holdings in Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider's stock worth $38,000 after buying an additional 361 shares in the last quarter. Clean Yield Group bought a new stake in Sun Life Financial during the third quarter worth approximately $39,000. Finally, Ridgewood Investments LLC acquired a new position in Sun Life Financial in the second quarter worth approximately $39,000. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Price Performance

Sun Life Financial stock traded down $0.41 during midday trading on Tuesday, reaching $61.29. The stock had a trading volume of 273,446 shares, compared to its average volume of 666,858. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.05. The firm has a market cap of $35.28 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.59 and a beta of 1.03. The firm's fifty day simple moving average is $58.53 and its two-hundred day simple moving average is $53.69.

Sun Life Financial Increases Dividend

The firm also recently disclosed 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 is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a yield of 4.05%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial's dividend payout ratio is currently 55.23%.

Analysts Set New Price Targets

SLF has been the subject of several research reports. Barclays began coverage on Sun Life Financial in a research note on Thursday, September 5th. They set an "equal weight" rating for the company. StockNews.com cut Sun Life Financial from a "buy" rating to a "hold" rating in a research note on Tuesday, November 19th.

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.