Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Verition Fund Management LLC

Verition Fund Management LLC lowered its position in shares of Sun Life Financial Inc. (NYSE:SLF – Get Rating) (TSE:SLF) by 42.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,422 shares of the financial services provider’s stock after selling 7,806 shares during the period. Verition Fund Management LLC’s holdings in Sun Life Financial were worth $414,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of SLF. Toronto Dominion Bank raised its stake in Sun Life Financial by 49.5% during the 2nd quarter. Toronto Dominion Bank now owns 3,714,597 shares of the financial services provider’s stock worth $171,793,000 after acquiring an additional 1,230,562 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Sun Life Financial by 60.1% during the third quarter. Canada Pension Plan Investment Board now owns 2,054,565 shares of the financial services provider’s stock worth $82,135,000 after purchasing an additional 770,965 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Sun Life Financial by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 19,782,590 shares of the financial services provider’s stock valued at $1,104,462,000 after purchasing an additional 646,833 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Sun Life Financial by 83.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,051,715 shares of the financial services provider’s stock valued at $48,180,000 after purchasing an additional 479,343 shares during the period. Finally, Legal & General Group Plc grew its stake in Sun Life Financial by 13.0% during the 2nd quarter. Legal & General Group Plc now owns 3,996,867 shares of the financial services provider’s stock worth $182,738,000 after buying an additional 458,496 shares during the last quarter. Hedge funds and other institutional investors own 44.94% of the company’s stock.

Sun Life Financial Trading Down 1.1 %

NYSE SLF opened at $48.87 on Wednesday. The stock has a market capitalization of $28.66 billion, a price-to-earnings ratio of 12.22, a PEG ratio of 1.16 and a beta of 1.01. The business’s 50 day moving average is $48.96 and its two-hundred day moving average is $45.75. Sun Life Financial Inc. has a 12-month low of $37.96 and a 12-month high of $56.90.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Wednesday, March 1st will be given a $0.541 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.53. The ex-dividend date of this dividend is Tuesday, February 28th. This represents a $2.16 annualized dividend and a yield of 4.43%. Sun Life Financial’s dividend payout ratio is presently 52.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Scotiabank increased their price objective on Sun Life Financial from C$71.00 to C$75.00 in a report on Friday, February 10th. Royal Bank of Canada lifted their price objective on shares of Sun Life Financial from C$75.00 to C$76.00 in a research note on Friday, February 10th. Credit Suisse Group upped their target price on shares of Sun Life Financial from C$74.00 to C$75.00 in a report on Friday, February 10th. National Bank Financial raised their price target on Sun Life Financial from C$69.00 to C$71.00 in a report on Friday, February 10th. Finally, TD Securities increased their price objective on Sun Life Financial from C$68.00 to C$71.00 in a research report on Friday, February 10th.

Sun Life Financial Company Profile

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Sun Life Financial, Inc engages in the provision of insurance and asset management solutions to individual and corporate clients. It operates through the following segments: Canada, United States, Asset Management, Asia, and Corporate. The Canada segment offers individual insurance and group benefits and retirement services.