Caprock Group LLC Sells 278 Shares of Sun Life Financial Inc. (NYSE:SLF)

Caprock Group LLC decreased its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,061 shares of the financial services provider’s stock after selling 278 shares during the quarter. Caprock Group LLC’s holdings in Sun Life Financial were worth $294,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLF. Assenagon Asset Management S.A. boosted its position in Sun Life Financial by 0.3% in the third quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock valued at $3,635,000 after buying an additional 200 shares in the last quarter. Verdence Capital Advisors LLC raised its holdings in Sun Life Financial by 1.8% in the second quarter. Verdence Capital Advisors LLC now owns 12,160 shares of the financial services provider’s stock worth $596,000 after purchasing an additional 219 shares during the period. Burney Co. lifted its holdings in Sun Life Financial by 0.3% during the first quarter. Burney Co. now owns 89,252 shares of the financial services provider’s stock worth $4,871,000 after acquiring an additional 238 shares in the last quarter. Addison Advisors LLC lifted its holdings in shares of Sun Life Financial by 124.9% during 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 in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Sun Life Financial by 1.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 33,507 shares of the financial services provider’s stock valued at $1,642,000 after purchasing an additional 426 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

NYSE SLF opened at $61.18 on Monday. The stock has a market capitalization of $35.22 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.58 and a beta of 1.01. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $61.86. The stock’s 50 day moving average price is $57.89 and its two-hundred day moving average price is $53.19.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.06%. Sun Life Financial’s dividend payout ratio is presently 52.34%.

Wall Street Analyst Weigh In

Several brokerages have commented on SLF. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Barclays initiated coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating on the stock.

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.