Atomi Financial Group Inc. Invests $240,000 in Sun Life Financial Inc. (NYSE:SLF)

Atomi Financial Group Inc. acquired a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 4,043 shares of the financial services provider’s stock, valued at approximately $240,000.

Other large investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of Sun Life Financial by 7.6% in the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after buying an additional 654,404 shares during the period. JPMorgan Chase & Co. increased its holdings in Sun Life Financial by 1.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock valued at $164,876,000 after purchasing an additional 34,072 shares during the period. Sanctuary Advisors LLC purchased a new position in Sun Life Financial during the 3rd quarter valued at about $878,000. FMR LLC increased its holdings in Sun Life Financial by 5.2% during the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after purchasing an additional 257,178 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Sun Life Financial by 5.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,580,531 shares of the financial services provider’s stock valued at $91,778,000 after purchasing an additional 79,155 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

Sun Life Financial stock opened at $58.49 on Monday. The stock’s 50 day simple moving average is $59.80 and its two-hundred day simple moving average is $56.34. The stock has a market cap of $33.57 billion, a price-to-earnings ratio of 13.03, a PEG ratio of 1.58 and a beta of 1.03. 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 company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th were given a dividend of $0.621 per share. This represents a $2.48 annualized dividend and a yield of 4.25%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, November 27th. Sun Life Financial’s payout ratio is presently 57.46%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com downgraded 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 given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Sun Life Financial presently has an average rating of “Moderate Buy”.

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.