Sanctuary Advisors LLC Invests $878,000 in Sun Life Financial Inc. (NYSE:SLF)

Sanctuary Advisors LLC acquired a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the third quarter, HoldingsChannel reports. The firm acquired 14,350 shares of the financial services provider’s stock, valued at approximately $878,000.

Several other hedge funds also recently bought and sold shares of SLF. National Bank of Canada FI increased its stake in Sun Life Financial by 28.2% in the 3rd quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock worth $338,621,000 after buying an additional 1,284,556 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Sun Life Financial by 13.9% during 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 acquiring an additional 1,049,244 shares in the last quarter. CIBC Asset Management Inc grew its stake in Sun Life Financial by 16.5% in the second quarter. CIBC Asset Management Inc now owns 6,407,407 shares of the financial services provider’s stock worth $313,976,000 after purchasing an additional 905,679 shares in the last quarter. Intact Investment Management Inc. increased its holdings in Sun Life Financial by 423.9% during the 2nd quarter. Intact Investment Management Inc. now owns 1,017,964 shares of the financial services provider’s stock worth $49,909,000 after purchasing an additional 823,670 shares during the period. Finally, AGF Management Ltd. raised its position in Sun Life Financial by 46.5% during the 2nd quarter. AGF Management Ltd. now owns 2,513,349 shares of the financial services provider’s stock valued at $135,816,000 after purchasing an additional 797,901 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Trading Up 0.4 %

Shares of NYSE SLF opened at $58.92 on Monday. The stock has a market capitalization of $33.92 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.55 and a beta of 1.03. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85. The stock’s fifty day simple moving average is $59.26 and its two-hundred day simple moving average is $54.58.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.621 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.22%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is presently 55.23%.

Wall Street Analysts Forecast Growth

SLF has been the topic of several research reports. StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Barclays assumed coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company.

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.