DRW Securities LLC Invests $354,000 in Sun Life Financial Inc. (NYSE:SLF)

DRW Securities LLC acquired a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,100 shares of the financial services provider’s stock, valued at approximately $354,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after buying an additional 562 shares in the last quarter. Assetmark Inc. grew its holdings in shares of Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 522 shares during the period. Addison Advisors LLC increased its stake in Sun Life Financial by 124.9% in the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 361 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Sun Life Financial during the second quarter worth $39,000. Finally, Clean Yield Group purchased a new stake in Sun Life Financial during the third quarter worth $39,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Barclays began coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They set an “equal weight” rating for the company.

Sun Life Financial Stock Performance

Shares of NYSE:SLF opened at $61.51 on Wednesday. The business’s fifty day moving average price is $58.09 and its two-hundred day moving average price is $53.33. The stock has a market cap of $35.41 billion, a PE ratio of 13.70, a price-to-earnings-growth ratio of 1.59 and a beta of 1.01. Sun Life Financial Inc. has a one year low of $46.41 and a one year high of $61.86.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be given a dividend of $0.621 per share. This represents a $2.48 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date is Wednesday, November 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s dividend payout ratio (DPR) is currently 52.34%.

Sun Life Financial 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.