Public Sector Pension Investment Board Has $4.40 Million Holdings in Sun Life Financial Inc. (NYSE:SLF)

Public Sector Pension Investment Board trimmed its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,771 shares of the financial services provider’s stock after selling 497 shares during the quarter. Public Sector Pension Investment Board’s holdings in Sun Life Financial were worth $4,400,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLF. GAMMA Investing LLC increased its holdings in Sun Life Financial by 6,244.4% in the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after buying an additional 562 shares during the period. Assetmark Inc. boosted its position in shares of Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 522 shares in the last quarter. Addison Advisors LLC increased its stake in Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 361 shares during the period. Ridgewood Investments LLC acquired a new position in Sun Life Financial in the second quarter worth about $39,000. Finally, Clean Yield Group acquired a new position in Sun Life Financial in the third quarter worth about $39,000. 52.26% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays began coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

Sun Life Financial Stock Up 0.6 %

Shares of Sun Life Financial stock opened at $61.74 on Tuesday. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $61.86. The stock has a market capitalization of $35.54 billion, a P/E ratio of 13.75, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The company has a 50-day simple moving average of $58.36 and a 200 day simple moving average of $53.55.

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 dividend of $0.621 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 annualized dividend and a dividend yield of 4.02%. Sun Life Financial’s dividend payout ratio (DPR) is presently 55.23%.

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.