Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 7.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 311,546 shares of the financial services provider’s stock after selling 25,140 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sun Life Financial were worth $18,092,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in SLF. Bridgewater Associates LP increased its stake in shares of Sun Life Financial by 45.8% during the 3rd quarter. Bridgewater Associates LP now owns 19,347 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 6,081 shares in the last quarter. BNP Paribas Financial Markets purchased a new stake in shares of Sun Life Financial in the third quarter valued at $594,000. FMR LLC boosted its stake in shares of Sun Life Financial by 5.2% during the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after acquiring an additional 257,178 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Sun Life Financial by 7.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock valued at $537,288,000 after purchasing an additional 654,404 shares during the last quarter. Finally, DRW Securities LLC purchased a new position in Sun Life Financial in the 3rd quarter valued at about $354,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Trading Up 0.8 %

Shares of NYSE:SLF opened at $61.39 on Friday. The firm has a market cap of $35.34 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.57 and a beta of 1.01. The stock’s 50-day moving average price is $58.36 and its two-hundred day moving average price is $53.51. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $61.86.

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 $0.621 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.05%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial’s payout ratio is presently 55.23%.

Analysts Set New Price Targets

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

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.