Wellington Management Group LLP Sells 74,216 Shares of Sun Life Financial Inc. (NYSE:SLF)

Wellington Management Group LLP lowered its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 54.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 62,206 shares of the financial services provider's stock after selling 74,216 shares during the period. Wellington Management Group LLP's holdings in Sun Life Financial were worth $3,612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SLF. Assetmark Inc. increased its holdings in shares of Sun Life Financial by 2,747.4% in the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider's stock worth $31,000 after purchasing an additional 522 shares during the period. Addison Advisors LLC boosted its stake in Sun Life Financial by 124.9% in 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 in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Sun Life Financial in the 2nd quarter worth approximately $39,000. Clean Yield Group bought a new position in shares of Sun Life Financial during the 3rd quarter valued at $39,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in Sun Life Financial during the second quarter valued at about $43,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Price Performance

SLF traded down $1.35 on Wednesday, hitting $58.16. The company had a trading volume of 803,872 shares, compared to its average volume of 674,888. The stock has a fifty day simple moving average of $59.20 and a 200-day simple moving average of $54.46. The firm has a market capitalization of $33.48 billion, a P/E ratio of 12.95, a P/E/G ratio of 1.55 and a beta of 1.03. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $62.85.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders 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 dividend yield of 4.27%. The ex-dividend date is Wednesday, November 27th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.59. Sun Life Financial's dividend payout ratio (DPR) is presently 55.23%.

Analyst Ratings Changes

Several analysts have weighed in on the company. StockNews.com downgraded 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.

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.