BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $91.97 Million Position in Sun Life Financial Inc. (NYSE:SLF)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lessened its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 40.9% during the third quarter, Holdings Channel reports. The institutional investor owned 1,585,690 shares of the financial services provider’s stock after selling 1,095,425 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Sun Life Financial were worth $91,968,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. Verition Fund Management LLC acquired a new stake in shares of Sun Life Financial in the third quarter valued at approximately $1,255,000. Financial Counselors Inc. grew its position in Sun Life Financial by 29.3% in the third quarter. Financial Counselors Inc. now owns 7,823 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 1,774 shares in the last quarter. Bridgewater Associates LP increased its stake in Sun Life Financial by 45.8% in the 3rd quarter. Bridgewater Associates LP now owns 19,347 shares of the financial services provider’s stock valued at $1,123,000 after buying an additional 6,081 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in Sun Life Financial during the 3rd quarter worth about $594,000. Finally, FMR LLC boosted its stake in shares of Sun Life Financial by 5.2% during the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock worth $301,047,000 after buying an additional 257,178 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $61.39 on Friday. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $61.86. The stock has a market cap of $35.34 billion, a price-to-earnings ratio of 13.67, a PEG ratio of 1.57 and a beta of 1.01. The firm’s 50-day moving average is $58.36 and its 200-day moving average is $53.51.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be given a $0.621 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.05%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 55.23%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Barclays initiated coverage on Sun Life Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

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.