Independent Advisor Alliance Grows Position in Sun Life Financial Inc. (NYSE:SLF)

Independent Advisor Alliance increased its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 14.6% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 14,382 shares of the financial services provider’s stock after acquiring an additional 1,828 shares during the quarter. Independent Advisor Alliance’s holdings in Sun Life Financial were worth $834,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SLF. Price T Rowe Associates Inc. MD grew its position in shares of Sun Life Financial by 3.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 105,050 shares of the financial services provider’s stock valued at $5,734,000 after purchasing an additional 3,423 shares in the last quarter. Virtu Financial LLC bought a new position in Sun Life Financial during the first quarter valued at approximately $299,000. Burney Co. grew its holdings in Sun Life Financial by 0.3% during the 1st quarter. Burney Co. now owns 89,252 shares of the financial services provider’s stock valued at $4,871,000 after buying an additional 238 shares in the last quarter. Cetera Investment Advisers increased its stake in Sun Life Financial by 108.3% in the 1st quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock worth $3,506,000 after acquiring an additional 33,401 shares during the last quarter. Finally, Cetera Advisors LLC purchased a new stake in shares of Sun Life Financial during the 1st quarter worth approximately $384,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SLF shares. Barclays began coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. StockNews.com downgraded shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at $60.93 on Thursday. The stock has a market cap of $35.08 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. The stock has a 50 day moving average price of $58.18 and a 200-day moving average price of $53.38. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $61.86.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a dividend of $0.621 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.08%. Sun Life Financial’s payout ratio is 52.34%.

Sun Life Financial Company 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.