Addenda Capital Inc. Sells 338 Shares of Sun Life Financial Inc. (NYSE:SLF)

Addenda Capital Inc. lessened its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.3% during the fourth quarter, HoldingsChannel reports. The firm owned 126,238 shares of the financial services provider’s stock after selling 338 shares during the period. Addenda Capital Inc.’s holdings in Sun Life Financial were worth $7,491,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of SLF. Assetmark Inc. grew its position in shares of Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 522 shares in the last quarter. Addison Advisors LLC grew its position 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. Clean Yield Group purchased a new position in shares of Sun Life Financial during the 3rd quarter valued at $39,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Sun Life Financial during the 4th quarter valued at $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Sun Life Financial during the 3rd quarter valued at $51,000. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

NYSE SLF opened at $58.83 on Tuesday. The company has a market capitalization of $33.76 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.59 and a beta of 1.03. The company has a fifty day moving average of $59.95 and a 200-day moving average of $56.05. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $62.85.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th were paid a dividend of $0.621 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.22%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is 57.46%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sun Life Financial presently has an average rating of “Moderate Buy”.

Sun Life Financial 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.