MML Investors Services LLC Invests $237,000 in Sun Life Financial Inc. (NYSE:SLF)

MML Investors Services LLC purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,089 shares of the financial services provider’s stock, valued at approximately $237,000.

Other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its position in shares of Sun Life Financial by 7.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after buying an additional 654,404 shares during the period. FMR LLC boosted its stake in Sun Life Financial by 5.2% in the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after acquiring an additional 257,178 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Sun Life Financial by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,580,531 shares of the financial services provider’s stock worth $91,778,000 after acquiring an additional 79,155 shares during the period. Tyler Stone Wealth Management raised its position in shares of Sun Life Financial by 100.0% during the 3rd quarter. Tyler Stone Wealth Management now owns 17,454 shares of the financial services provider’s stock valued at $1,013,000 after acquiring an additional 8,727 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Sun Life Financial by 10.4% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 2,681,115 shares of the financial services provider’s stock valued at $131,480,000 after purchasing an additional 252,671 shares during the period. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Up 0.3 %

SLF opened at $59.53 on Friday. The stock has a market cap of $34.25 billion, a P/E ratio of 13.26, a P/E/G ratio of 1.55 and a beta of 1.02. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $62.85. The company has a fifty day simple moving average of $59.43 and a 200 day simple moving average of $54.83.

Sun Life Financial Increases Dividend

The firm also recently declared 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 is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a dividend yield of 4.17%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is 55.23%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SLF shares. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Barclays initiated coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued 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.