DRW Securities LLC Makes New Investment in Sun Life Financial Inc. (NYSE:SLF)

DRW Securities LLC acquired a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,100 shares of the financial services provider’s stock, valued at approximately $354,000.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its position 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 purchasing an additional 562 shares during the last quarter. Assetmark Inc. increased its stake in Sun Life Financial by 2,747.4% in the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 522 shares during the period. Addison Advisors LLC raised its holdings in shares of 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 buying an additional 361 shares during the last quarter. Ridgewood Investments LLC acquired a new stake in shares of Sun Life Financial during the second quarter worth about $39,000. Finally, Clean Yield Group purchased a new position in shares of Sun Life Financial during the third quarter worth about $39,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Down 0.1 %

Shares of NYSE:SLF opened at $61.51 on Wednesday. The company has a market cap of $35.41 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.59 and a beta of 1.01. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $61.86. The firm’s 50-day simple moving average is $58.09 and its 200-day simple moving average is $53.33.

Sun Life Financial Increases Dividend

The firm also recently disclosed 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. This represents a $2.48 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s payout ratio is currently 52.34%.

Wall Street Analyst Weigh In

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

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.