Addenda Capital Inc. Has $7.49 Million Holdings in Sun Life Financial Inc. (NYSE:SLF)

Addenda Capital Inc. lessened its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 126,238 shares of the financial services provider’s stock after selling 338 shares during the period. Addenda Capital Inc.’s holdings in Sun Life Financial were worth $7,491,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Avanza Fonder AB acquired a new stake in shares of Sun Life Financial during the 4th quarter worth approximately $2,499,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Sun Life Financial in the fourth quarter valued at approximately $45,000. Burney Co. boosted its position in Sun Life Financial by 0.6% in the fourth quarter. Burney Co. now owns 87,150 shares of the financial services provider’s stock valued at $5,171,000 after buying an additional 508 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Sun Life Financial by 4.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 65,096 shares of the financial services provider’s stock valued at $3,863,000 after buying an additional 2,507 shares in the last quarter. Finally, JCIC Asset Management Inc. boosted its position in Sun Life Financial by 1.9% in the fourth quarter. JCIC Asset Management Inc. now owns 108,325 shares of the financial services provider’s stock valued at $6,428,000 after buying an additional 1,979 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Sun Life Financial Stock Performance

SLF stock opened at $58.83 on Tuesday. The company has a fifty day moving average price of $59.95 and a 200-day moving average price of $56.05. The company has a market capitalization of $33.76 billion, a P/E ratio of 13.10, a PEG ratio of 1.59 and a beta of 1.03. Sun Life Financial Inc. has a 52-week low of $46.41 and a 52-week high of $62.85.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were paid 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 4.22%. The ex-dividend date was Wednesday, November 27th. Sun Life Financial’s payout ratio is 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.