Charles Schwab Investment Management Inc. Boosts Holdings in Sun Life Financial Inc. (NYSE:SLF)

Charles Schwab Investment Management Inc. grew its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.3% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,580,531 shares of the financial services provider’s stock after buying an additional 79,155 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Sun Life Financial were worth $91,778,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in SLF. The Manufacturers Life Insurance Company lifted its position in Sun Life Financial by 13.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock valued at $421,167,000 after purchasing an additional 1,049,244 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Sun Life Financial by 16.5% in the 2nd quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock valued at $313,976,000 after buying an additional 905,679 shares during the period. Intact Investment Management Inc. boosted its stake in shares of Sun Life Financial by 423.9% in the second quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock valued at $49,909,000 after buying an additional 823,670 shares in the last quarter. AGF Management Ltd. grew its holdings in Sun Life Financial by 46.5% during the second quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock worth $135,816,000 after acquiring an additional 797,901 shares during the period. Finally, 1832 Asset Management L.P. raised its position in Sun Life Financial by 5.1% in the second quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider’s stock worth $500,492,000 after acquiring an additional 499,009 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SLF. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Barclays began coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $61.51 on Wednesday. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $61.86. The firm has a market capitalization of $35.41 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. The stock’s fifty 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. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a yield of 4.04%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is 55.23%.

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.