Sun Life Financial (NYSE:SLF) Sees Strong Trading Volume – Should You Buy?

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) shares saw an uptick in trading volume on Monday . 3,725,023 shares changed hands during trading, an increase of 456% from the previous session’s volume of 669,699 shares.The stock last traded at $61.57 and had previously closed at $61.18.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SLF. Barclays initiated coverage on Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating for the company. StockNews.com lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th.

Sun Life Financial Stock Up 0.7 %

The company has a market cap of $35.45 billion, a P/E ratio of 13.63, a PEG ratio of 1.58 and a beta of 1.01. The firm’s 50 day moving average is $57.89 and its two-hundred day moving average is $53.19.

Sun Life Financial Increases Dividend

The business also recently declared 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 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 annualized dividend and a dividend yield of 4.03%. Sun Life Financial’s dividend payout ratio is presently 52.34%.

Hedge Funds Weigh In On Sun Life Financial

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tidal Investments LLC acquired a new stake in shares of Sun Life Financial during the third quarter worth $286,000. Wilmington Savings Fund Society FSB bought a new stake in Sun Life Financial during the third quarter valued at $51,000. Sanctuary Advisors LLC acquired a new stake in Sun Life Financial during the 3rd quarter worth about $878,000. Barclays PLC raised its position in shares of Sun Life Financial by 61.3% in the 3rd quarter. Barclays PLC now owns 5,907 shares of the financial services provider’s stock worth $343,000 after acquiring an additional 2,244 shares in the last quarter. Finally, Unigestion Holding SA acquired a new position in shares of Sun Life Financial in the 3rd quarter valued at about $11,544,000. 52.26% of the stock is owned by institutional investors and hedge funds.

About Sun Life Financial

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.