JPMorgan Chase & Co. Acquires 34,072 Shares of Sun Life Financial Inc. (NYSE:SLF)

JPMorgan Chase & Co. lifted its holdings in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,841,712 shares of the financial services provider’s stock after purchasing an additional 34,072 shares during the period. JPMorgan Chase & Co.’s holdings in Sun Life Financial were worth $164,876,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SLF. Assetmark Inc. boosted its holdings in shares of Sun Life Financial by 2,747.4% during the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after buying an additional 522 shares in the last quarter. Addison Advisors LLC boosted its stake in Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 361 shares in the last quarter. Clean Yield Group bought a new position in Sun Life Financial during the third quarter worth $39,000. Fairfield Financial Advisors LTD acquired a new stake in Sun Life Financial in the second quarter worth $43,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Sun Life Financial in the third quarter valued at $51,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLF has been the subject of several research reports. StockNews.com downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Barclays started coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating for the company.

Sun Life Financial Trading Up 0.1 %

Sun Life Financial stock opened at $59.34 on Wednesday. The firm’s fifty day moving average price is $59.58 and its two-hundred day moving average price is $55.15. The firm has a market capitalization of $34.14 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.55 and a beta of 1.02. Sun Life Financial Inc. has a 1-year low of $46.41 and a 1-year high of $62.85.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were paid a dividend of $0.621 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.19%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s payout ratio is 55.23%.

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.