Northwest & Ethical Investments L.P. Sells 11,888 Shares of Sun Life Financial Inc. (NYSE:SLF)

Northwest & Ethical Investments L.P. lowered its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 589,272 shares of the financial services provider’s stock after selling 11,888 shares during the quarter. Sun Life Financial makes up approximately 0.9% of Northwest & Ethical Investments L.P.’s holdings, making the stock its 18th biggest holding. Northwest & Ethical Investments L.P. owned about 0.09% of Sun Life Financial worth $34,185,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 562 shares during the period. Assetmark Inc. boosted its position in Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 522 shares during the last quarter. Addison Advisors LLC grew its stake in shares of Sun Life Financial by 124.9% during the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 361 shares in the last quarter. Ridgewood Investments LLC bought a new stake in shares of Sun Life Financial in the second quarter worth $39,000. Finally, Clean Yield Group bought a new stake in shares of Sun Life Financial in the third quarter worth $39,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Down 0.9 %

Shares of NYSE SLF traded down $0.58 during midday trading on Thursday, hitting $60.93. 312,247 shares of the company’s stock were exchanged, compared to its average volume of 670,378. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $61.86. The company’s 50 day moving average price is $58.18 and its 200 day moving average price is $53.38. The firm has a market capitalization of $35.08 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a $0.621 dividend. 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 4.08%. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial’s payout ratio is currently 52.34%.

Wall Street Analyst Weigh In

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

Sun Life Financial 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.