Geode Capital Management LLC Has $156.13 Million Stake in Sun Life Financial Inc. (NYSE:SLF)

Geode Capital Management LLC increased its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 8.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,654,586 shares of the financial services provider's stock after buying an additional 207,832 shares during the period. Geode Capital Management LLC owned 0.42% of Sun Life Financial worth $156,127,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of SLF. Assenagon Asset Management S.A. boosted its holdings in Sun Life Financial by 0.3% during 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 acquiring an additional 200 shares during the period. Verdence Capital Advisors LLC boosted its stake in Sun Life Financial by 1.8% during the 2nd quarter. Verdence Capital Advisors LLC now owns 12,160 shares of the financial services provider's stock valued at $596,000 after purchasing an additional 219 shares during the period. State Street Corp boosted its stake in Sun Life Financial by 0.8% during the 3rd quarter. State Street Corp now owns 39,478 shares of the financial services provider's stock valued at $2,291,000 after purchasing an additional 330 shares during the period. Addison Advisors LLC grew 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 buying an additional 361 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Sun Life Financial by 1.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 33,507 shares of the financial services provider's stock worth $1,642,000 after buying an additional 426 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Sun Life Financial Trading Down 0.8 %

SLF stock traded down $0.51 during trading on Tuesday, reaching $59.54. 312,955 shares of the stock were exchanged, compared to its average volume of 674,357. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85. The company has a market capitalization of $34.28 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 1.55 and a beta of 1.03. The stock has a 50 day simple moving average of $59.18 and a 200-day simple moving average of $54.43.

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 issued a dividend of $0.621 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio (DPR) is presently 55.23%.

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.