Erste Asset Management GmbH Purchases Shares of 28,200 Sun Life Financial Inc. (NYSE:SLF)

Erste Asset Management GmbH purchased a new stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 28,200 shares of the financial services provider's stock, valued at approximately $1,632,000.

A number of other large investors also recently bought and sold shares of the business. The Manufacturers Life Insurance Company boosted its holdings in shares of Sun Life Financial by 13.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider's stock worth $421,167,000 after buying an additional 1,049,244 shares during the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Sun Life Financial by 16.5% in the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider's stock worth $313,976,000 after buying an additional 905,679 shares during the last quarter. Intact Investment Management Inc. boosted its holdings in shares of Sun Life Financial by 423.9% in the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider's stock worth $49,909,000 after buying an additional 823,670 shares during the last quarter. AGF Management Ltd. lifted its holdings in Sun Life Financial by 46.5% during the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider's stock valued at $135,816,000 after purchasing an additional 797,901 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its holdings in Sun Life Financial by 5.1% during the second quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider's stock valued at $500,492,000 after purchasing an additional 499,009 shares in the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Barclays assumed coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They set an "equal weight" rating on the stock. StockNews.com downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Tuesday, November 19th.

Sun Life Financial Stock Performance

SLF stock traded up $0.59 during mid-day trading on Wednesday, reaching $61.88. 343,534 shares of the stock traded hands, compared to its average volume of 665,685. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $62.09. The stock has a market capitalization of $35.62 billion, a PE ratio of 13.78, a PEG ratio of 1.59 and a beta of 1.02. The business has a 50-day moving average price of $58.62 and a two-hundred day moving average price of $53.74.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be issued a $0.621 dividend. The ex-dividend date is Wednesday, November 27th. This is a boost 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 4.01%. Sun Life Financial's dividend payout ratio is presently 55.23%.

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.