Triasima Portfolio Management inc. Lowers Position in Sun Life Financial Inc. $SLF

Triasima Portfolio Management inc. lessened its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 22.0% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 54,630 shares of the financial services provider’s stock after selling 15,400 shares during the quarter. Triasima Portfolio Management inc.’s holdings in Sun Life Financial were worth $3,628,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of SLF. Goldman Sachs Group Inc. lifted its holdings in shares of Sun Life Financial by 282.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,776,920 shares of the financial services provider’s stock worth $159,006,000 after buying an additional 2,050,891 shares in the last quarter. Canada Pension Plan Investment Board increased its position in Sun Life Financial by 47.2% in the first quarter. Canada Pension Plan Investment Board now owns 4,221,447 shares of the financial services provider’s stock worth $241,643,000 after purchasing an additional 1,353,508 shares during the last quarter. Value Partners Investments Inc. increased its position in Sun Life Financial by 1,002.9% in the first quarter. Value Partners Investments Inc. now owns 1,120,888 shares of the financial services provider’s stock worth $64,216,000 after purchasing an additional 1,019,254 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Sun Life Financial in the first quarter worth $50,968,000. Finally, 1832 Asset Management L.P. increased its position in Sun Life Financial by 8.9% in the first quarter. 1832 Asset Management L.P. now owns 10,338,250 shares of the financial services provider’s stock worth $591,968,000 after purchasing an additional 846,735 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Down 0.5%

SLF stock opened at $60.81 on Wednesday. Sun Life Financial Inc. has a twelve month low of $52.44 and a twelve month high of $66.81. The stock has a market capitalization of $37.37 billion, a price-to-earnings ratio of 15.05, a price-to-earnings-growth ratio of 1.64 and a beta of 0.90. The firm’s fifty day simple moving average is $59.14 and its two-hundred day simple moving average is $60.51.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.29. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.34 billion. During the same quarter in the previous year, the business posted $1.11 earnings per share. As a group, equities research analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a research report on Saturday, September 27th. Morgan Stanley set a $89.00 price target on shares of Sun Life Financial in a research report on Tuesday. Scotiabank upgraded shares of Sun Life Financial to a “hold” rating in a research report on Thursday, July 31st. Barclays cut shares of Sun Life Financial from an “equal weight” rating to an “underweight” rating in a research report on Monday, July 7th. Finally, TD Securities upgraded shares of Sun Life Financial to a “buy” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $88.50.

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.