Sun Life Financial Inc. (NYSE:SLF) Shares Acquired by Addison Advisors LLC

Addison Advisors LLC grew its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 124.9% during the third quarter, Holdings Channel reports. The firm owned 650 shares of the financial services provider’s stock after acquiring an additional 361 shares during the quarter. Addison Advisors LLC’s holdings in Sun Life Financial were worth $38,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. lifted its stake in Sun Life Financial by 3.4% during the 1st quarter. Russell Investments Group Ltd. now owns 660,009 shares of the financial services provider’s stock worth $36,040,000 after acquiring an additional 21,773 shares in the last quarter. TD Asset Management Inc raised its holdings in Sun Life Financial by 2.8% in the first quarter. TD Asset Management Inc now owns 16,107,748 shares of the financial services provider’s stock valued at $879,751,000 after acquiring an additional 442,197 shares in the last quarter. Blair William & Co. IL lifted its stake in Sun Life Financial by 3.0% in the first quarter. Blair William & Co. IL now owns 12,568 shares of the financial services provider’s stock worth $686,000 after acquiring an additional 366 shares during the last quarter. Twin Tree Management LP grew its holdings in Sun Life Financial by 249.8% during the 1st quarter. Twin Tree Management LP now owns 274,119 shares of the financial services provider’s stock worth $14,961,000 after acquiring an additional 195,745 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of Sun Life Financial in the 1st quarter valued at $1,961,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLF has been the topic of a number of analyst reports. Barclays initiated coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. StockNews.com raised Sun Life Financial from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th.

Sun Life Financial Stock Up 0.6 %

Shares of NYSE SLF opened at $59.57 on Tuesday. The stock has a market cap of $37.53 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $59.98. The business has a 50-day moving average price of $56.82 and a 200 day moving average price of $52.60.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.07. The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Sun Life Financial had a net margin of 7.32% and a return on equity of 17.44%. Sell-side analysts anticipate that Sun Life Financial Inc. will post 4.85 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.621 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 annualized dividend and a dividend yield of 4.17%. Sun Life Financial’s dividend payout ratio is 52.34%.

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.