BNP Paribas Financial Markets Makes New $594,000 Investment in Sun Life Financial Inc. (NYSE:SLF)

BNP Paribas Financial Markets acquired a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the third quarter, Holdings Channel.com reports. The fund acquired 10,233 shares of the financial services provider’s stock, valued at approximately $594,000.

A number of other hedge funds have also recently made changes to their positions in the business. Assetmark Inc. increased 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 purchasing an additional 522 shares in the last quarter. Addison Advisors LLC boosted its position in shares of Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after buying an additional 361 shares during the last quarter. Ridgewood Investments LLC bought a new stake in Sun Life Financial during the second quarter worth $39,000. Clean Yield Group bought a new stake in Sun Life Financial during the third quarter worth $39,000. Finally, Fairfield Financial Advisors LTD purchased a new stake in Sun Life Financial in the 2nd quarter valued at $43,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SLF. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. Barclays started 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 NYSE:SLF opened at $60.13 on Friday. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85. The company’s 50-day moving average is $59.08 and its 200 day moving average is $54.22. The company has a market capitalization of $34.62 billion, a P/E ratio of 13.39, a price-to-earnings-growth ratio of 1.56 and a beta of 1.03.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a $0.621 dividend. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.13%. Sun Life Financial’s dividend payout ratio is presently 55.23%.

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.