Erste Asset Management GmbH Invests $1.63 Million in Sun Life Financial Inc. (NYSE:SLF)

Erste Asset Management GmbH purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 28,200 shares of the financial services provider’s stock, valued at approximately $1,632,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLF. GAMMA Investing LLC raised its holdings in shares of Sun Life Financial by 6,244.4% during the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 562 shares during the period. Assetmark Inc. grew its stake in shares of Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 522 shares during the period. Addison Advisors LLC raised its position in shares of Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 361 shares during the period. Ridgewood Investments LLC bought a new position in shares of Sun Life Financial in the second quarter worth $39,000. Finally, Clean Yield Group purchased a new stake in shares of Sun Life Financial in the third quarter worth about $39,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Trading Down 0.7 %

NYSE SLF opened at $61.29 on Wednesday. The company’s 50 day moving average is $58.53 and its two-hundred day moving average is $53.69. The stock has a market cap of $35.28 billion, a price-to-earnings ratio of 13.65, a PEG ratio of 1.59 and a beta of 1.03. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $62.05.

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 given a dividend of $0.621 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.05%. This is a boost 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 currently 55.23%.

Wall Street Analyst Weigh In

SLF has been the topic of a number of research reports. Barclays began coverage on Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating on the stock. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th.

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.