Van ECK Associates Corp Acquires 27,727 Shares of Sun Life Financial Inc. (NYSE:SLF)

Van ECK Associates Corp raised its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 27.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,431 shares of the financial services provider's stock after purchasing an additional 27,727 shares during the period. Van ECK Associates Corp's holdings in Sun Life Financial were worth $7,289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Sun Life Financial by 6,244.4% in the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider's stock valued at $28,000 after buying an additional 562 shares during the period. Clean Yield Group bought a new stake in Sun Life Financial during the third quarter worth approximately $39,000. Ridgewood Investments LLC acquired a new stake in shares of Sun Life Financial in the second quarter worth $39,000. Fairfield Financial Advisors LTD acquired a new position in Sun Life Financial during the 2nd quarter worth $43,000. Finally, Concord Wealth Partners acquired a new position in shares of Sun Life Financial during the 3rd quarter worth about $116,000. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock traded down $0.39 during midday trading on Friday, hitting $59.21. 112,535 shares of the company were exchanged, compared to its average volume of 658,106. The firm has a 50 day simple moving average of $56.62 and a 200-day simple moving average of $52.48. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $59.81. The firm has a market cap of $37.31 billion, a P/E ratio of 13.28, a PEG ratio of 1.51 and a beta of 1.01.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. The company had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.72 billion. Equities research analysts expect that Sun Life Financial Inc. will post 4.87 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 yield of 4.20%. 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 is 52.34%.

Wall Street Analysts Forecast Growth

SLF has been the topic of several research reports. StockNews.com upgraded shares of Sun Life Financial from a "hold" rating to a "buy" rating in a report on Wednesday. Barclays began coverage on Sun Life Financial in a report on Thursday, September 5th. They set an "equal weight" rating on the stock.

Sun Life Financial Company 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.