Franklin Resources Inc. Trims Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Franklin Resources Inc. decreased its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 242,420 shares of the financial services provider’s stock after selling 19,389 shares during the quarter. Franklin Resources Inc.’s holdings in Sun Life Financial were worth $14,116,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. increased its position 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 period. Addison Advisors LLC increased its holdings 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 valued at $38,000 after acquiring an additional 361 shares during the period. Ridgewood Investments LLC purchased a new stake in Sun Life Financial in the 2nd quarter valued at $39,000. Clean Yield Group acquired a new stake in Sun Life Financial during the 3rd quarter worth $39,000. Finally, Fairfield Financial Advisors LTD purchased a new position in Sun Life Financial during the 2nd quarter worth $43,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SLF shares. Barclays assumed coverage on shares of 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, November 19th.

Sun Life Financial Stock Performance

Shares of SLF opened at $58.92 on Friday. The stock has a market capitalization of $33.92 billion, a P/E ratio of 13.12, a P/E/G ratio of 1.55 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. The company’s fifty day moving average is $59.26 and its two-hundred day moving average is $54.55.

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. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.22%. 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. Sun Life Financial’s payout ratio is 55.23%.

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.