Assenagon Asset Management S.A. Buys 2,507 Shares of Sun Life Financial Inc. (NYSE:SLF)

Assenagon Asset Management S.A. grew its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 65,096 shares of the financial services provider’s stock after buying an additional 2,507 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Sun Life Financial were worth $3,863,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SLF. Assetmark Inc. grew its stake in shares of Sun Life Financial by 2,747.4% in the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 522 shares during the last quarter. Addison Advisors LLC grew its stake 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 worth $38,000 after purchasing an additional 361 shares during the last quarter. Clean Yield Group bought a new stake in shares of Sun Life Financial in the third quarter worth about $39,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Sun Life Financial in the third quarter worth about $51,000. Finally, Plato Investment Management Ltd bought a new stake in shares of Sun Life Financial in the third quarter worth about $101,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Price Performance

Shares of SLF opened at $58.83 on Tuesday. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $62.85. The company has a 50-day simple moving average of $59.95 and a two-hundred day simple moving average of $56.05. The firm has a market capitalization of $33.76 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 1.53 and a beta of 1.03.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were issued a $0.621 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a yield of 4.22%. Sun Life Financial’s dividend payout ratio (DPR) is 57.46%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on SLF. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

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.