Montrusco Bolton Investments Inc. Has $677,000 Stake in Sun Life Financial Inc. (NYSE:SLF)

Montrusco Bolton Investments Inc. grew its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 11,655 shares of the financial services provider’s stock after acquiring an additional 562 shares during the period. Montrusco Bolton Investments Inc.’s holdings in Sun Life Financial were worth $677,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in SLF. UniSuper Management Pty Ltd lifted its holdings in shares of Sun Life Financial by 95.2% during the 1st quarter. UniSuper Management Pty Ltd now owns 8,200 shares of the financial services provider’s stock valued at $448,000 after buying an additional 4,000 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Sun Life Financial by 845.9% during the 1st quarter. Bessemer Group Inc. now owns 20,478 shares of the financial services provider’s stock valued at $1,117,000 after buying an additional 18,313 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Sun Life Financial by 3.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 105,050 shares of the financial services provider’s stock valued at $5,734,000 after buying an additional 3,423 shares during the last quarter. Advisory Resource Group lifted its holdings in shares of Sun Life Financial by 24.6% during the 1st quarter. Advisory Resource Group now owns 17,179 shares of the financial services provider’s stock valued at $938,000 after buying an additional 3,387 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Sun Life Financial during the 1st quarter valued at about $299,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $61.18 on Friday. The stock’s 50 day simple moving average is $57.89 and its 200 day simple moving average is $53.19. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $61.86. The company has a market capitalization of $35.22 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.58 and a beta of 1.01.

Sun Life Financial Increases Dividend

The firm 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 $0.621 dividend. 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 4.06%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s payout ratio is currently 52.34%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SLF. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday. Barclays began coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock.

Sun Life Financial Company 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.