JPMorgan Chase & Co. Buys 34,072 Shares of Sun Life Financial Inc. (NYSE:SLF)

JPMorgan Chase & Co. boosted its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,841,712 shares of the financial services provider's stock after buying an additional 34,072 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.49% of Sun Life Financial worth $164,876,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its stake in shares of 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 last quarter. State Street Corp raised its position 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 last quarter. Addison Advisors LLC raised its position in Sun Life Financial by 124.9% during the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 361 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings 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. Finally, Evergreen Capital Management LLC grew its position 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 buying an additional 466 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Performance

Shares of SLF traded up $0.04 on Wednesday, reaching $59.34. The stock had a trading volume of 347,216 shares, compared to its average volume of 664,307. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85. The firm has a market capitalization of $34.14 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.55 and a beta of 1.02. The company has a 50-day simple moving average of $59.63 and a 200-day simple moving average of $55.18.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were given a dividend of $0.621 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.19%. 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 currently 55.23%.

Wall Street Analyst Weigh In

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

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.