Quadrature Capital Ltd Takes $6.46 Million Position in Sun Life Financial Inc. (NYSE:SLF)

Quadrature Capital Ltd acquired a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 111,200 shares of the financial services provider's stock, valued at approximately $6,458,000.

Other hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp boosted its holdings in shares of Sun Life Financial by 2.9% in the 2nd quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider's stock worth $721,042,000 after buying an additional 407,913 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in Sun Life Financial by 5.1% in 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 acquiring an additional 499,009 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Sun Life Financial by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider's stock valued at $537,288,000 after acquiring an additional 654,404 shares during the period. Toronto Dominion Bank increased its stake in shares of Sun Life Financial by 5.0% during the 2nd quarter. Toronto Dominion Bank now owns 6,975,205 shares of the financial services provider's stock worth $341,715,000 after purchasing an additional 332,641 shares during the last quarter. Finally, CIBC Asset Management Inc raised its holdings in shares of Sun Life Financial by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider's stock worth $377,311,000 after purchasing an additional 81,261 shares during the period. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Trading Down 0.9 %

Shares of SLF stock traded down $0.55 during trading on Friday, reaching $62.14. 813,355 shares of the company's stock traded hands, compared to its average volume of 667,613. The firm's 50-day moving average is $58.71 and its 200 day moving average is $53.81. The company has a market capitalization of $35.77 billion, a P/E ratio of 13.84, a PEG ratio of 1.58 and a beta of 1.03. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $62.85.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.621 per share. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 annualized dividend and a dividend yield of 4.00%. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio is currently 55.23%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. StockNews.com lowered Sun Life Financial from a "buy" rating to a "hold" rating in a report on Tuesday, November 19th. Barclays started coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an "equal weight" rating for the company.

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.