Canopy Partners LLC Takes $229,000 Position in Sun Life Financial Inc. (NYSE:SLF)

Canopy Partners LLC bought a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,941 shares of the financial services provider’s stock, valued at approximately $229,000.

A number of other large investors have also bought and sold shares of the stock. Mackenzie Financial Corp grew its holdings in shares of Sun Life Financial by 2.9% in the second quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider’s stock worth $721,042,000 after purchasing an additional 407,913 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Sun Life Financial by 5.1% during the second quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider’s stock valued at $500,492,000 after acquiring an additional 499,009 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Sun Life Financial by 13.9% during the second quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock worth $421,167,000 after purchasing an additional 1,049,244 shares during the period. Toronto Dominion Bank grew its stake in shares of Sun Life Financial by 5.0% in the second quarter. Toronto Dominion Bank now owns 6,975,205 shares of the financial services provider’s stock worth $341,715,000 after purchasing an additional 332,641 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Sun Life Financial by 1.3% during the 3rd quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider’s stock valued at $377,311,000 after purchasing an additional 81,261 shares during the period. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Price Performance

SLF stock opened at $61.18 on Friday. The firm has a 50-day moving average of $57.89 and a 200 day moving average of $53.19. The company has a market cap of $35.22 billion, a P/E ratio of 13.63, a PEG ratio of 1.58 and a beta of 1.01. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $61.86.

Sun Life Financial Increases Dividend

The company 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 $0.621 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.06%. The ex-dividend date is Wednesday, November 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio (DPR) is presently 52.34%.

Analyst Upgrades and Downgrades

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

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.