PCJ Investment Counsel Ltd. Sells 1,460 Shares of Sun Life Financial Inc. (NYSE:SLF)

PCJ Investment Counsel Ltd. trimmed its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 4.3% in the third quarter, Holdings Channel reports. The fund owned 32,720 shares of the financial services provider’s stock after selling 1,460 shares during the quarter. PCJ Investment Counsel Ltd.’s holdings in Sun Life Financial were worth $1,898,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Sun Life Financial by 6,244.4% in the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 562 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 522 shares during the last quarter. Addison Advisors LLC increased its holdings in 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 acquired a new stake in Sun Life Financial in the second quarter valued at $39,000. Finally, Clean Yield Group acquired a new stake in Sun Life Financial in the third quarter valued at $39,000. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Stock Down 0.5 %

NYSE SLF opened at $60.35 on Wednesday. The company has a market capitalization of $38.03 billion, a price-to-earnings ratio of 13.44, a PEG ratio of 1.55 and a beta of 1.01. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $61.61. The stock has a fifty day simple moving average of $57.57 and a 200 day simple moving average of $53.02.

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 issued a dividend of $0.621 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 52.34%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday. Barclays assumed coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company.

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.