Sun Life Financial Inc. (NYSE:SLF) Shares Bought by West Family Investments Inc.

West Family Investments Inc. grew its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 16.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,179 shares of the financial services provider’s stock after buying an additional 1,039 shares during the quarter. West Family Investments Inc.’s holdings in Sun Life Financial were worth $417,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SLF. Toronto Dominion Bank increased its position in Sun Life Financial by 42.8% during the 1st quarter. Toronto Dominion Bank now owns 6,642,564 shares of the financial services provider’s stock worth $362,551,000 after purchasing an additional 1,991,360 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Sun Life Financial by 13.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock worth $421,167,000 after acquiring an additional 1,049,244 shares in the last quarter. CIBC Asset Management Inc lifted its position in Sun Life Financial by 16.5% during the 2nd quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock worth $313,976,000 after acquiring an additional 905,679 shares in the last quarter. Intact Investment Management Inc. raised its position in shares of Sun Life Financial by 423.9% in the 2nd quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock valued at $49,909,000 after purchasing an additional 823,670 shares in the last quarter. Finally, AGF Management Ltd. raised its position in shares of Sun Life Financial by 46.5% in the 2nd quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock valued at $135,816,000 after purchasing an additional 797,901 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $60.35 on Wednesday. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $61.61. The stock has a fifty day moving average of $57.57 and a two-hundred day moving average of $53.02. The firm has a market capitalization of $38.03 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be issued a $0.621 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 annualized dividend and a dividend yield of 4.12%. Sun Life Financial’s dividend payout ratio is 52.34%.

Analyst Ratings Changes

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

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.