222,660 Shares in Sun Life Financial Inc. (NYSE:SLF) Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky purchased a new position in Sun Life Financial Inc. (NYSE:SLF – Get Rating) (TSE:SLF) during the third quarter, HoldingsChannel reports. The firm purchased 222,660 shares of the financial services provider’s stock, valued at approximately $8,853,000.

Other hedge funds also recently bought and sold shares of the company. Achmea Investment Management B.V. bought a new position in Sun Life Financial in the 1st quarter worth about $32,000. Edmond DE Rothschild Holding S.A. bought a new position in Sun Life Financial in the 3rd quarter worth about $26,000. Addison Advisors LLC raised its position in Sun Life Financial by 205.8% in the 3rd quarter. Addison Advisors LLC now owns 743 shares of the financial services provider’s stock worth $30,000 after buying an additional 500 shares during the last quarter. Asset Dedication LLC purchased a new position in Sun Life Financial in the 3rd quarter worth about $31,000. Finally, Hexagon Capital Partners LLC raised its position in Sun Life Financial by 79,300.0% in the 3rd quarter. Hexagon Capital Partners LLC now owns 794 shares of the financial services provider’s stock worth $32,000 after buying an additional 793 shares during the last quarter. Institutional investors own 44.94% of the company’s stock.

Sun Life Financial Trading Up 0.7 %

Shares of NYSE:SLF opened at $44.87 on Friday. The stock has a 50 day moving average of $48.89 and a 200 day moving average of $45.76. The company has a market cap of $26.31 billion, a PE ratio of 11.22, a price-to-earnings-growth ratio of 1.07 and a beta of 1.01. Sun Life Financial Inc. has a 12-month low of $37.96 and a 12-month high of $56.90.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Wednesday, March 1st will be paid a dividend of $0.541 per share. The ex-dividend date is Tuesday, February 28th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.53. This represents a $2.16 dividend on an annualized basis and a dividend yield of 4.82%. Sun Life Financial’s payout ratio is 52.75%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLF. CIBC lowered Sun Life Financial from an “outperform” rating to a “neutral” rating in a research report on Thursday, February 9th. They noted that the move was a valuation call. National Bank Financial boosted their target price on Sun Life Financial from C$69.00 to C$71.00 in a research report on Friday, February 10th. BMO Capital Markets boosted their target price on Sun Life Financial from C$76.00 to C$78.00 in a research report on Friday, February 10th. Desjardins upped their price target on shares of Sun Life Financial from C$73.00 to C$75.00 in a research report on Friday, February 10th. Finally, Credit Suisse Group upped their price target on shares of Sun Life Financial from C$74.00 to C$75.00 in a research report on Friday, February 10th.

About Sun Life Financial

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Sun Life Financial, Inc engages in the provision of insurance and asset management solutions to individual and corporate clients. It operates through the following segments: Canada, United States, Asset Management, Asia, and Corporate. The Canada segment offers individual insurance and group benefits and retirement services.