Sun Life Financial Inc. (NYSE:SLF) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. decreased its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.3% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 198,891 shares of the financial services provider’s stock after selling 2,701 shares during the period. Crossmark Global Holdings Inc.’s holdings in Sun Life Financial were worth $11,802,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Bank of Canada FI lifted its position in Sun Life Financial by 28.2% during the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock worth $338,621,000 after buying an additional 1,284,556 shares during the period. The Manufacturers Life Insurance Company boosted its stake in shares of Sun Life Financial by 13.9% during the 2nd 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 buying an additional 1,049,244 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Sun Life Financial by 32.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,775,042 shares of the financial services provider’s stock valued at $86,958,000 after purchasing an additional 431,418 shares in the last quarter. Mackenzie Financial Corp grew its stake in Sun Life Financial by 2.9% during the 2nd quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider’s stock worth $721,042,000 after buying an additional 407,913 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in shares of Sun Life Financial by 5.0% in the second quarter. Toronto Dominion Bank now owns 6,975,205 shares of the financial services provider’s stock valued at $341,715,000 after purchasing an additional 332,641 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

SLF opened at $58.83 on Tuesday. The company has a market capitalization of $33.76 billion, a P/E ratio of 13.10, a P/E/G ratio of 1.59 and a beta of 1.03. The firm’s fifty day moving average price is $59.95 and its two-hundred day moving average price is $56.05. Sun Life Financial Inc. has a fifty-two week low of $46.41 and a fifty-two week high of $62.85.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th were issued a $0.621 dividend. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.22%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend was Wednesday, November 27th. Sun Life Financial’s payout ratio is currently 57.46%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SLF. StockNews.com cut shares of Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday, November 19th. National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy”.

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.