Metis Global Partners LLC Reduces Holdings in Sun Life Financial Inc. (NYSE:SLF)

Metis Global Partners LLC lessened its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 33,756 shares of the financial services provider’s stock after selling 913 shares during the period. Metis Global Partners LLC’s holdings in Sun Life Financial were worth $1,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Sun Life Financial by 1.6% during the first quarter. Vanguard Group Inc. now owns 23,241,910 shares of the financial services provider’s stock worth $1,268,543,000 after purchasing an additional 359,028 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of Sun Life Financial by 2.9% in 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 purchasing an additional 407,913 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Sun Life Financial by 5.1% during 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 buying an additional 499,009 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Sun Life Financial by 13.9% in the second quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock valued at $421,167,000 after acquiring an additional 1,049,244 shares in the last quarter. Finally, Toronto Dominion Bank grew its holdings in Sun Life Financial by 5.0% during the 2nd quarter. Toronto Dominion Bank now owns 6,975,205 shares of the financial services provider’s stock worth $341,715,000 after acquiring an additional 332,641 shares in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. StockNews.com upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Barclays began coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company.

Sun Life Financial Trading Down 1.3 %

Shares of SLF stock opened at $60.25 on Friday. The firm has a market capitalization of $37.96 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 1.55 and a beta of 1.01. The firm’s 50 day moving average is $57.24 and its 200-day moving average is $52.82. Sun Life Financial Inc. has a 1 year low of $46.41 and a 1 year high of $61.61.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a dividend of $0.621 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a yield of 4.12%. Sun Life Financial’s payout ratio is currently 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.