Grimes & Company Inc. Invests $204,000 in Sun Life Financial Inc. (NYSE:SLF)

Grimes & Company Inc. bought a new position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 3,440 shares of the financial services provider’s stock, valued at approximately $204,000.

A number of other large investors also recently made changes to their positions in SLF. Assetmark Inc. raised its stake in Sun Life Financial by 2,747.4% in the third 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 lifted its holdings 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 worth $38,000 after purchasing an additional 361 shares during the period. Clean Yield Group bought a new position in shares of Sun Life Financial during the third quarter worth about $39,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Sun Life Financial during the fourth quarter worth $45,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Sun Life Financial during the 3rd quarter valued at about $51,000. Institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

SLF has been the topic of a number of research reports. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Performance

Shares of NYSE SLF opened at $58.49 on Monday. The stock has a market cap of $33.57 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.58 and a beta of 1.03. The firm’s 50-day simple moving average is $59.80 and its 200 day simple moving average is $56.34. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two 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. Shareholders of record on Wednesday, November 27th were given a $0.621 dividend. This represents a $2.48 dividend on an annualized basis and a yield of 4.25%. 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 presently 57.46%.

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.