Assetmark Inc. Boosts Stake in Sun Life Financial Inc. (NYSE:SLF)

Assetmark Inc. lifted its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2,747.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 541 shares of the financial services provider’s stock after acquiring an additional 522 shares during the quarter. Assetmark Inc.’s holdings in Sun Life Financial were worth $31,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. GAMMA Investing LLC increased its holdings in Sun Life Financial by 6,244.4% during the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 562 shares during the last quarter. Clean Yield Group acquired a new stake in Sun Life Financial in the third quarter valued at $39,000. Ridgewood Investments LLC bought a new position in Sun Life Financial during the 2nd quarter valued at $39,000. Fairfield Financial Advisors LTD acquired a new position in Sun Life Financial during the 2nd quarter worth $43,000. Finally, Concord Wealth Partners bought a new stake in shares of Sun Life Financial in the 3rd quarter worth about $116,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

SLF stock opened at $60.35 on Wednesday. The firm has a market cap of $38.03 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.55 and a beta of 1.01. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $61.61. The firm has a fifty day moving average price of $57.57 and a two-hundred day moving average price of $53.02.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be given a dividend of $0.621 per share. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.12%. The ex-dividend date of this dividend is Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio is currently 52.34%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SLF shares. Barclays assumed coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday.

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.