Axxcess Wealth Management LLC Makes New Investment in Sun Life Financial Inc. $SLF

Axxcess Wealth Management LLC acquired a new position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,216 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other hedge funds have also recently added to or reduced their stakes in SLF. Investment Management Corp VA ADV boosted its holdings in Sun Life Financial by 164.5% in the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 385 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Sun Life Financial by 53.2% in the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 231 shares during the period. Financial Gravity Asset Management Inc. acquired a new position in shares of Sun Life Financial during the first quarter valued at $55,000. Clean Yield Group boosted its holdings in shares of Sun Life Financial by 36.8% during the second quarter. Clean Yield Group now owns 925 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 249 shares during the period. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Sun Life Financial by 295.7% during the second quarter. Farther Finance Advisors LLC now owns 1,116 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 834 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Down 0.6%

Shares of NYSE SLF opened at $60.57 on Friday. Sun Life Financial Inc. has a fifty-two week low of $52.44 and a fifty-two week high of $66.81. The firm’s 50-day simple moving average is $59.31 and its 200 day simple moving average is $60.74. The stock has a market cap of $37.22 billion, a P/E ratio of 14.99, a P/E/G ratio of 1.64 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued 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 period in the previous year, the business earned $1.11 earnings per share. On average, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SLF has been the subject of several analyst reports. National Bank Financial downgraded shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a report on Wednesday, October 8th. TD Securities raised shares of Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. Argus raised shares of Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Morgan Stanley set a $89.00 price target on shares of Sun Life Financial in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus 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.