Dixon Mitchell Investment Counsel Inc. Purchases Shares of 750 Sun Life Financial Inc. (NYSE:SLF)

Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 750 shares of the financial services provider’s stock, valued at approximately $45,000.

Other large investors have also made changes to their positions in the company. Mackenzie Financial Corp lifted its stake in shares of Sun Life Financial by 2.9% in the 2nd quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider’s stock valued at $721,042,000 after purchasing an additional 407,913 shares in the last quarter. 1832 Asset Management L.P. lifted its position in Sun Life Financial by 5.1% during the second quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider’s stock valued at $500,492,000 after buying an additional 499,009 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Sun Life Financial by 7.6% during the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after buying an additional 654,404 shares during the period. Toronto Dominion Bank increased its position in shares of Sun Life Financial by 5.0% in the second quarter. Toronto Dominion Bank now owns 6,975,205 shares of the financial services provider’s stock worth $341,715,000 after acquiring an additional 332,641 shares in the last quarter. Finally, CIBC Asset Management Inc raised its stake in shares of Sun Life Financial by 1.3% in the 3rd quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider’s stock valued at $377,311,000 after acquiring an additional 81,261 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Trading Up 2.3 %

SLF opened at $58.89 on Thursday. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85. The firm has a market cap of $33.80 billion, a price-to-earnings ratio of 13.12, a PEG ratio of 1.53 and a beta of 1.03. The company has a fifty day simple moving average of $59.97 and a 200 day simple moving average of $55.85.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th were given a dividend of $0.621 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 27th. This represents a $2.48 annualized dividend and a dividend yield of 4.22%. Sun Life Financial’s dividend payout ratio (DPR) is presently 57.46%.

Analyst Upgrades and Downgrades

SLF has been the subject of a number of research reports. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Sun Life Financial presently has a consensus rating of “Moderate Buy”.

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.