Addenda Capital Inc. Acquires 1,262 Shares of Sun Life Financial Inc. (NYSE:SLF)

Addenda Capital Inc. boosted its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.8% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 152,339 shares of the financial services provider’s stock after purchasing an additional 1,262 shares during the period. Addenda Capital Inc.’s holdings in Sun Life Financial were worth $7,463,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Canoe Financial LP grew its holdings in shares of Sun Life Financial by 7,959.7% during the 4th quarter. Canoe Financial LP now owns 45,648,390 shares of the financial services provider’s stock worth $2,367,326,000 after purchasing an additional 45,082,012 shares in the last quarter. Norges Bank acquired a new stake in shares of Sun Life Financial during the 4th quarter worth approximately $335,757,000. TD Asset Management Inc grew its holdings in shares of Sun Life Financial by 34.7% during the 4th quarter. TD Asset Management Inc now owns 15,665,551 shares of the financial services provider’s stock worth $816,424,000 after purchasing an additional 4,035,394 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Sun Life Financial by 42.8% during the 1st quarter. Toronto Dominion Bank now owns 6,642,564 shares of the financial services provider’s stock worth $362,551,000 after purchasing an additional 1,991,360 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Sun Life Financial by 171.3% during the 4th quarter. Allianz Asset Management GmbH now owns 1,172,025 shares of the financial services provider’s stock worth $61,081,000 after purchasing an additional 740,014 shares in the last quarter. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Trading Up 0.9 %

SLF stock traded up $0.46 during trading on Wednesday, hitting $50.97. The company had a trading volume of 465,952 shares, compared to its average volume of 700,528. The company has a fifty day moving average price of $49.01 and a two-hundred day moving average price of $51.33. The company has a market cap of $29.48 billion, a P/E ratio of 13.01, a P/E/G ratio of 1.25 and a beta of 0.99. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $55.46.

Sun Life Financial Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Wednesday, August 28th will be paid a $0.587 dividend. This represents a $2.35 annualized dividend and a yield of 4.61%. The ex-dividend date of this dividend is Wednesday, August 28th. Sun Life Financial’s dividend payout ratio is 60.10%.

Wall Street Analysts Forecast Growth

Separately, Argus raised Sun Life Financial to a “strong-buy” rating in a report on Monday, June 3rd.

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.