Charles Schwab Investment Management Inc. Increases Stake in Sun Life Financial Inc. (NYSE:SLF)

Charles Schwab Investment Management Inc. lifted its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,580,531 shares of the financial services provider's stock after purchasing an additional 79,155 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.25% of Sun Life Financial worth $91,778,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. West Family Investments Inc. increased its stake in Sun Life Financial by 16.9% in the 3rd quarter. West Family Investments Inc. now owns 7,179 shares of the financial services provider's stock worth $417,000 after acquiring an additional 1,039 shares during the last quarter. Natixis Advisors LLC increased its position in shares of Sun Life Financial by 13.3% in the third quarter. Natixis Advisors LLC now owns 43,246 shares of the financial services provider's stock worth $2,509,000 after purchasing an additional 5,086 shares during the last quarter. CIBC Asset Management Inc raised its stake in Sun Life Financial by 1.3% in the third quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider's stock valued at $377,311,000 after purchasing an additional 81,261 shares in the last quarter. Plato Investment Management Ltd bought a new stake in Sun Life Financial during the third quarter valued at approximately $101,000. Finally, Entropy Technologies LP bought a new stake in Sun Life Financial during the third quarter valued at approximately $788,000. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Price Performance

Shares of NYSE SLF opened at $61.51 on Wednesday. The stock has a market capitalization of $35.41 billion, a P/E ratio of 13.70, a PEG ratio of 1.59 and a beta of 1.01. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $61.86. The firm's 50 day simple moving average is $58.09 and its two-hundred day simple moving average is $53.33.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be issued 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 4.04%. 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 52.34%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays assumed coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They set an "equal weight" rating on the stock. StockNews.com lowered Sun Life Financial from a "buy" rating to a "hold" rating in a research note 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.