Sun Life Financial Inc. (NYSE:SLF) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company grew its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,256,384 shares of the financial services provider's stock after purchasing an additional 654,404 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.47% of Sun Life Financial worth $537,288,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SLF. CIBC Asset Management Inc grew its holdings in Sun Life Financial by 16.5% in the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider's stock worth $313,976,000 after purchasing an additional 905,679 shares during the last quarter. Intact Investment Management Inc. grew its holdings in Sun Life Financial by 423.9% in the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider's stock worth $49,909,000 after purchasing an additional 823,670 shares during the last quarter. AGF Management Ltd. grew its holdings in Sun Life Financial by 46.5% in the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider's stock worth $135,816,000 after purchasing an additional 797,901 shares during the last quarter. 1832 Asset Management L.P. grew its holdings 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 worth $500,492,000 after purchasing an additional 499,009 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Sun Life Financial by 32.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,775,042 shares of the financial services provider's stock worth $86,958,000 after purchasing an additional 431,418 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Sun Life Financial Stock Down 0.1 %

Shares of SLF traded down $0.07 during trading hours on Tuesday, reaching $61.51. 492,688 shares of the company traded hands, compared to its average volume of 671,942. The stock has a market capitalization of $35.41 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.58 and a beta of 1.01. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $61.86. The business has a fifty day moving average price of $58.09 and a 200-day moving average price of $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 given a dividend of $0.621 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a yield of 4.04%. Sun Life Financial's payout ratio is currently 55.23%.

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.