Sun Life Financial Inc. (NYSE:SLF) Stake Raised by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. increased its position in shares of Sun Life Financial Inc. (NYSE:SLFFree Report) (TSE:SLF) by 5.2% during the 4th quarter, Holdings Channel.com reports. The firm owned 17,610 shares of the financial services provider’s stock after buying an additional 875 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Sun Life Financial were worth $913,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd bought a new stake in Sun Life Financial during the fourth quarter worth approximately $619,000. Norges Bank bought a new stake in Sun Life Financial during the fourth quarter worth approximately $335,757,000. Private Wealth Management Group LLC bought a new stake in Sun Life Financial during the fourth quarter worth approximately $41,000. Fiera Capital Corp raised its holdings in Sun Life Financial by 24.1% during the fourth quarter. Fiera Capital Corp now owns 842,526 shares of the financial services provider’s stock worth $43,839,000 after purchasing an additional 163,661 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Sun Life Financial by 19.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,142,666 shares of the financial services provider’s stock worth $59,255,000 after purchasing an additional 182,543 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $49.18 on Friday. The firm has a market cap of $28.58 billion, a price-to-earnings ratio of 12.58, a price-to-earnings-growth ratio of 1.30 and a beta of 1.00. Sun Life Financial Inc. has a 1 year low of $44.57 and a 1 year high of $55.46. The firm’s 50 day moving average price is $51.96 and its two-hundred day moving average price is $52.04.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, May 29th will be given a $0.588 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, May 29th. This represents a $2.35 annualized dividend and a yield of 4.78%. Sun Life Financial’s payout ratio is 59.34%.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on shares of Sun Life Financial in a research report on Thursday, February 22nd. They issued a “buy” rating on the stock.

Get Our Latest Stock Analysis on Sun Life Financial

About Sun Life Financial

(Free Report)

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.

Read More

Want to see what other hedge funds are holding SLF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Sun Life Financial Inc. (NYSE:SLFFree Report) (TSE:SLF).

Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

Receive News & Ratings for Sun Life Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Life Financial and related companies with MarketBeat.com's FREE daily email newsletter.