Natixis Advisors LLC Boosts Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Natixis Advisors LLC raised its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 13.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,246 shares of the financial services provider’s stock after buying an additional 5,086 shares during the quarter. Natixis Advisors LLC’s holdings in Sun Life Financial were worth $2,509,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its holdings in shares of Sun Life Financial by 2.9% during the second quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider’s stock valued at $721,042,000 after acquiring an additional 407,913 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of 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 acquiring an additional 499,009 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Sun Life Financial by 13.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock worth $421,167,000 after acquiring an additional 1,049,244 shares during the last quarter. Toronto Dominion Bank lifted its position in Sun Life Financial by 5.0% in the 2nd quarter. Toronto Dominion Bank now owns 6,975,205 shares of the financial services provider’s stock valued at $341,715,000 after acquiring an additional 332,641 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in Sun Life Financial by 1.3% during 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 purchasing an additional 81,261 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SLF. StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Barclays started coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating for the company.

Sun Life Financial Price Performance

Shares of SLF opened at $61.18 on Monday. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $61.86. The firm has a market capitalization of $35.22 billion, a P/E ratio of 13.63, a PEG ratio of 1.58 and a beta of 1.01. The business has a fifty day moving average of $57.89 and a 200 day moving average of $53.19.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is currently 52.34%.

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.