Private Wealth Management Group LLC Invests $41,000 in Sun Life Financial Inc. (NYSE:SLF)

Private Wealth Management Group LLC purchased a new stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 797 shares of the financial services provider’s stock, valued at approximately $41,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SLF. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Sun Life Financial by 13.5% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 14,368 shares of the financial services provider’s stock valued at $701,000 after buying an additional 1,713 shares during the period. Raymond James & Associates grew its holdings in shares of Sun Life Financial by 30.3% during the 3rd quarter. Raymond James & Associates now owns 34,839 shares of the financial services provider’s stock worth $1,700,000 after purchasing an additional 8,103 shares in the last quarter. HHM Wealth Advisors LLC bought a new position in shares of Sun Life Financial in the third quarter worth $62,000. Syon Capital LLC acquired a new position in Sun Life Financial in the third quarter valued at about $237,000. Finally, Achmea Investment Management B.V. raised its stake in Sun Life Financial by 11.2% in the third quarter. Achmea Investment Management B.V. now owns 137,170 shares of the financial services provider’s stock valued at $6,724,000 after purchasing an additional 13,776 shares in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group began coverage on shares of Sun Life Financial in a report on Thursday, February 22nd. They issued a “buy” rating on the stock.

Sun Life Financial Trading Up 0.4 %

SLF traded up $0.20 on Friday, reaching $51.70. The stock had a trading volume of 405,311 shares, compared to its average volume of 829,475. The firm has a 50-day moving average of $52.73 and a 200-day moving average of $51.82. Sun Life Financial Inc. has a fifty-two week low of $44.57 and a fifty-two week high of $55.46. The company has a market capitalization of $30.04 billion, a price-to-earnings ratio of 13.22, a price-to-earnings-growth ratio of 1.32 and a beta of 1.00.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Wednesday, May 29th will be issued a dividend of $0.588 per share. This represents a $2.35 dividend on an annualized basis and a yield of 4.55%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, May 29th. Sun Life Financial’s payout ratio is presently 59.34%.

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.