Sun Life Financial (NYSE:SLF) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Sun Life Financial (NYSE:SLF) (TSE:SLF) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Separately, Barclays started coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company.

Sun Life Financial Stock Down 0.3 %

SLF stock opened at $61.18 on Tuesday. The business has a 50 day moving average of $57.89 and a 200-day moving average of $53.19. The firm has a market cap of $35.22 billion, a PE ratio of 13.63, a P/E/G ratio of 1.55 and a beta of 1.01. Sun Life Financial has a 12-month low of $46.41 and a 12-month high of $61.86.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors 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 dividend yield of 4.06%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s payout ratio is 55.23%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLF. Assetmark Inc. boosted its holdings in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after buying an additional 522 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 562 shares during the period. Addison Advisors LLC grew its position 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 purchasing an additional 361 shares in the last quarter. Clean Yield Group bought a new stake in shares of Sun Life Financial during the 3rd quarter valued at $39,000. Finally, Ridgewood Investments LLC purchased a new stake in Sun Life Financial during the 2nd quarter worth about $39,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

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.