Fmr LLC Purchases 257,178 Shares of Sun Life Financial Inc. (NYSE:SLF)

Fmr LLC raised its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,189,939 shares of the financial services provider’s stock after buying an additional 257,178 shares during the quarter. Fmr LLC’s holdings in Sun Life Financial were worth $301,047,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in Sun Life Financial by 7.6% in the third 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 acquiring an additional 654,404 shares in the last quarter. DRW Securities LLC purchased a new stake in shares of Sun Life Financial during the 3rd quarter valued at $354,000. Independent Advisor Alliance boosted its position in shares of Sun Life Financial by 14.6% in the 3rd quarter. Independent Advisor Alliance now owns 14,382 shares of the financial services provider’s stock worth $834,000 after purchasing an additional 1,828 shares in the last quarter. Canopy Partners LLC purchased a new position in Sun Life Financial during the 3rd quarter worth $229,000. Finally, Cerity Partners LLC increased its position in Sun Life Financial by 88.9% during the 3rd quarter. Cerity Partners LLC now owns 29,815 shares of the financial services provider’s stock valued at $1,730,000 after buying an additional 14,034 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Stock Performance

Shares of SLF opened at $61.39 on Friday. The stock has a 50-day moving average of $58.36 and a two-hundred day moving average of $53.53. The stock has a market cap of $35.34 billion, a P/E ratio of 13.67, a P/E/G ratio of 1.57 and a beta of 1.01. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $61.86.

Sun Life Financial Increases Dividend

The company 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. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.05%. Sun Life Financial’s payout ratio is 55.23%.

Analysts Set New Price Targets

SLF has been the topic of a number of research analyst reports. Barclays assumed coverage on Sun Life Financial in a research note on Thursday, September 5th. They set an “equal weight” rating on the stock. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th.

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.