Advisors Asset Management Inc. Purchases 968 Shares of Sun Life Financial Inc. (NYSE:SLF)

Advisors Asset Management Inc. lifted its position in Sun Life Financial Inc. (NYSE:SLFGet Rating) (TSE:SLF) by 8.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,947 shares of the financial services provider’s stock after acquiring an additional 968 shares during the quarter. Advisors Asset Management Inc.’s holdings in Sun Life Financial were worth $593,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SLF. Cetera Advisor Networks LLC lifted its holdings in Sun Life Financial by 2.4% during the 1st quarter. Cetera Advisor Networks LLC now owns 10,835 shares of the financial services provider’s stock valued at $605,000 after buying an additional 250 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its holdings in Sun Life Financial by 1.1% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 24,648 shares of the financial services provider’s stock valued at $1,376,000 after buying an additional 269 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in Sun Life Financial by 6.4% during the 1st quarter. Cresset Asset Management LLC now owns 4,827 shares of the financial services provider’s stock valued at $270,000 after buying an additional 292 shares in the last quarter. Unison Advisors LLC raised its holdings in shares of Sun Life Financial by 0.7% in the 2nd quarter. Unison Advisors LLC now owns 41,703 shares of the financial services provider’s stock valued at $1,910,000 after purchasing an additional 293 shares in the last quarter. Finally, Financial Management Professionals Inc. raised its holdings in shares of Sun Life Financial by 16.4% in the 2nd quarter. Financial Management Professionals Inc. now owns 2,266 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 319 shares in the last quarter. Institutional investors own 46.86% of the company’s stock.

Analyst Ratings Changes

SLF has been the subject of several recent research reports. Barclays reduced their price target on shares of Sun Life Financial from C$67.00 to C$63.00 in a report on Wednesday, October 12th. StockNews.com initiated coverage on shares of Sun Life Financial in a report on Wednesday, October 12th. They issued a “hold” rating for the company. National Bank Financial reduced their price target on shares of Sun Life Financial from C$67.00 to C$65.00 in a report on Friday, October 28th. Finally, Royal Bank of Canada reduced their price target on shares of Sun Life Financial from C$78.00 to C$75.00 in a report on Friday, November 4th.

Sun Life Financial Trading Down 0.6 %

NYSE:SLF opened at $46.20 on Friday. The company’s 50 day moving average is $42.46 and its two-hundred day moving average is $45.19. Sun Life Financial Inc. has a twelve month low of $37.96 and a twelve month high of $58.49. The company has a market cap of $27.09 billion, a PE ratio of 10.85, a P/E/G ratio of 1.16 and a beta of 1.00.

Sun Life Financial Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 30th. Stockholders of record on Wednesday, November 23rd will be paid a dividend of $0.528 per share. This represents a $2.11 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Tuesday, November 22nd. Sun Life Financial’s dividend payout ratio (DPR) is presently 50.70%.

About Sun Life Financial

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Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

Further Reading

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

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