Burney Co. Buys 508 Shares of Sun Life Financial Inc. (NYSE:SLF)

Burney Co. lifted its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,150 shares of the financial services provider’s stock after acquiring an additional 508 shares during the quarter. Burney Co.’s holdings in Sun Life Financial were worth $5,171,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Mackenzie Financial Corp raised its stake in Sun Life Financial by 2.9% during the 2nd quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider’s stock valued at $721,042,000 after buying an additional 407,913 shares during the last quarter. 1832 Asset Management L.P. grew its holdings in shares of Sun Life Financial by 5.1% in the second quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider’s stock worth $500,492,000 after acquiring an additional 499,009 shares during the period. The Manufacturers Life Insurance Company increased its position in Sun Life Financial by 7.6% during the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock valued at $537,288,000 after acquiring an additional 654,404 shares during the last quarter. Toronto Dominion Bank lifted its holdings in 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 valued at $341,715,000 after acquiring an additional 332,641 shares during the period. Finally, CIBC Asset Management Inc boosted its position in Sun Life Financial by 1.3% in the third quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider’s stock worth $377,311,000 after purchasing an additional 81,261 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Up 2.4 %

Shares of SLF opened at $58.96 on Wednesday. Sun Life Financial Inc. has a 52 week low of $46.41 and a 52 week high of $62.85. The stock has a market cap of $33.92 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 1.55 and a beta of 1.03. The business has a 50-day simple moving average of $59.97 and a two-hundred day simple moving average of $55.85.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were paid 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 was Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.21%. Sun Life Financial’s dividend payout ratio (DPR) is presently 57.46%.

Analyst Upgrades and Downgrades

SLF has been the subject of several research reports. StockNews.com lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, November 19th. National Bank Financial raised shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

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.