Prime Capital Investment Advisors LLC Sells 516 Shares of Sun Life Financial Inc. (NYSE:SLF)

Prime Capital Investment Advisors LLC trimmed its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,324 shares of the financial services provider’s stock after selling 516 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Sun Life Financial were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

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

Sun Life Financial Trading Down 1.3 %

Shares of Sun Life Financial stock opened at $60.25 on Friday. Sun Life Financial Inc. has a 12 month low of $46.41 and a 12 month high of $61.61. The firm has a market capitalization of $37.96 billion, a P/E ratio of 13.56, a P/E/G ratio of 1.55 and a beta of 1.01. The business has a fifty day simple moving average of $57.24 and a two-hundred day simple moving average of $52.82.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a dividend of $0.621 per share. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 annualized dividend and a yield of 4.12%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s payout ratio is presently 52.34%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Barclays initiated coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They issued an “equal weight” rating on the stock. StockNews.com raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th.

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.