Sun Life Financial Inc. (NYSE:SLF) Stock Holdings Decreased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lessened its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.6% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,665,564 shares of the financial services provider’s stock after selling 226,083 shares during the quarter. Sun Life Financial makes up about 1.3% of Connor Clark & Lunn Investment Management Ltd.’s holdings, making the stock its 19th biggest holding. Connor Clark & Lunn Investment Management Ltd.’s holdings in Sun Life Financial were worth $270,597,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

SLF has been the topic of a number of research reports. Barclays started coverage on Sun Life Financial in a report on Thursday, September 5th. They issued 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.

Sun Life Financial Trading Down 0.5 %

NYSE SLF 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 firm’s fifty day simple moving average is $57.57 and its 200-day simple moving average is $53.02. The company 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 declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.621 per share. The ex-dividend date is Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.12%. Sun Life Financial’s dividend payout ratio (DPR) is 52.34%.

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.