Sun Life Financial Inc. (NYSE:SLF) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,580,531 shares of the financial services provider’s stock after acquiring an additional 79,155 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.25% of Sun Life Financial worth $91,778,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLF. GAMMA Investing LLC grew its position in shares of Sun Life Financial by 6,244.4% during the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after buying an additional 562 shares in the last quarter. Assetmark Inc. grew its holdings in Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 522 shares in the last quarter. Addison Advisors LLC increased its position in shares of Sun Life Financial by 124.9% in the 3rd 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 during the last quarter. Ridgewood Investments LLC purchased a new stake in shares of Sun Life Financial during the 2nd quarter worth $39,000. Finally, Clean Yield Group acquired a new position in shares of Sun Life Financial during the third quarter worth $39,000. 52.26% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports 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 report on Thursday, September 5th. They issued an “equal weight” rating for the company.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $61.51 on Wednesday. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $61.86. The firm has a market cap of $35.41 billion, a price-to-earnings ratio of 13.70, a PEG ratio of 1.58 and a beta of 1.01. The stock’s 50-day moving average is $58.09 and its two-hundred day moving average is $53.33.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.621 per share. The ex-dividend date is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.04%. Sun Life Financial’s dividend payout ratio (DPR) is 55.23%.

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.