Franklin Resources Inc. Has $14.12 Million Holdings in Sun Life Financial Inc. (NYSE:SLF)

Franklin Resources Inc. decreased its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 7.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 242,420 shares of the financial services provider's stock after selling 19,389 shares during the quarter. Franklin Resources Inc.'s holdings in Sun Life Financial were worth $14,116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. lifted its position in Sun Life Financial by 2,747.4% during 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 raised its stake in shares of 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 during the last quarter. Clean Yield Group acquired a new position in shares of Sun Life Financial in the 3rd quarter valued at $39,000. Ridgewood Investments LLC acquired a new position in Sun Life Financial in the second quarter valued at about $39,000. Finally, Fairfield Financial Advisors LTD acquired a new position in Sun Life Financial during the second quarter valued at approximately $43,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

Sun Life Financial stock traded up $0.21 during mid-day trading on Friday, reaching $58.92. 565,552 shares of the company were exchanged, compared to its average volume of 673,144. The firm has a market cap of $33.92 billion, a PE ratio of 13.12, a PEG ratio of 1.55 and a beta of 1.03. The company has a fifty day simple moving average of $59.26 and a 200-day simple moving average of $54.58. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $62.85.

Sun Life Financial Increases Dividend

The business also recently declared 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 represents a $2.48 dividend on an annualized basis and a yield of 4.22%. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's payout ratio is 55.23%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SLF. StockNews.com downgraded Sun Life Financial from a "buy" rating to a "hold" rating in a research report on Tuesday, November 19th. Barclays began coverage on Sun Life Financial in a report on Thursday, September 5th. They set an "equal weight" rating for the company.

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.