EP Wealth Advisors LLC Buys Shares of 4,576 Sun Life Financial Inc. (NYSE:SLF)

EP Wealth Advisors LLC purchased a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,576 shares of the financial services provider’s stock, valued at approximately $266,000.

Other institutional investors also recently modified their holdings of the company. Assetmark Inc. raised its stake in Sun Life Financial by 2,747.4% during the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after buying an additional 522 shares during the last quarter. Addison Advisors LLC raised its position in shares of Sun Life Financial by 124.9% in 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. Clean Yield Group bought a new position in shares of Sun Life Financial in the 3rd quarter worth about $39,000. Ridgewood Investments LLC acquired a new position in shares of Sun Life Financial in the 2nd quarter valued at about $39,000. Finally, Fairfield Financial Advisors LTD bought a new stake in shares of Sun Life Financial during the 2nd quarter valued at about $43,000. 52.26% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Sun Life Financial Trading Down 0.5 %

Shares of NYSE SLF opened at $60.13 on Friday. The firm’s 50-day moving average price is $59.08 and its 200-day moving average price is $54.22. The firm has a market capitalization of $34.62 billion, a P/E ratio of 13.39, a P/E/G ratio of 1.56 and a beta of 1.03. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $62.85.

Sun Life Financial Increases Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.13%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio is presently 55.23%.

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.