Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 35.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 38,579 shares of the financial services provider's stock after selling 20,850 shares during the period. Intech Investment Management LLC's holdings in Sun Life Financial were worth $2,240,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers boosted its stake in Sun Life Financial by 108.3% in the 1st quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider's stock worth $3,506,000 after buying an additional 33,401 shares during the last quarter. Tyler Stone Wealth Management boosted its stake in Sun Life Financial by 100.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 17,454 shares of the financial services provider's stock worth $1,013,000 after buying an additional 8,727 shares during the last quarter. M&G Plc acquired a new stake in Sun Life Financial in the 2nd quarter worth about $1,520,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Sun Life Financial by 10.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,681,115 shares of the financial services provider's stock worth $131,480,000 after buying an additional 252,671 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Sun Life Financial in the 3rd quarter worth about $963,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Barclays assumed coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an "equal weight" rating on the stock. StockNews.com downgraded Sun Life Financial from a "buy" rating to a "hold" rating in a report on Tuesday, November 19th.

Sun Life Financial Stock Performance

Shares of NYSE:SLF traded up $0.40 during mid-day trading on Monday, hitting $61.58. 4,138,543 shares of the company traded hands, compared to its average volume of 672,217. The firm has a market cap of $35.45 billion, a P/E ratio of 13.71, a PEG ratio of 1.58 and a beta of 1.01. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $61.86. The firm's 50 day simple moving average is $57.99 and its 200 day simple moving average is $53.25.

Sun Life Financial Increases Dividend

The business 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. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a dividend yield of 4.03%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial's dividend payout ratio (DPR) is presently 52.34%.

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.