Lowe Wealth Advisors LLC Lowers Holdings in Sun Life Financial Inc. $SLF

Lowe Wealth Advisors LLC decreased its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 17.1% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,279 shares of the financial services provider’s stock after selling 263 shares during the quarter. Lowe Wealth Advisors LLC’s holdings in Sun Life Financial were worth $85,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Benjamin Edwards Inc. boosted its stake in shares of Sun Life Financial by 3.4% in the first quarter. Benjamin Edwards Inc. now owns 5,052 shares of the financial services provider’s stock worth $289,000 after buying an additional 167 shares during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in Sun Life Financial by 1.7% in the 1st quarter. NorthCrest Asset Manangement LLC now owns 10,801 shares of the financial services provider’s stock worth $618,000 after purchasing an additional 180 shares during the period. HighPoint Advisor Group LLC raised its holdings in Sun Life Financial by 4.4% in the 1st quarter. HighPoint Advisor Group LLC now owns 4,330 shares of the financial services provider’s stock worth $256,000 after purchasing an additional 181 shares during the period. Public Sector Pension Investment Board raised its holdings in Sun Life Financial by 0.4% in the 1st quarter. Public Sector Pension Investment Board now owns 55,447 shares of the financial services provider’s stock worth $3,173,000 after purchasing an additional 200 shares during the period. Finally, Tidal Investments LLC raised its holdings in Sun Life Financial by 4.5% in the 4th quarter. Tidal Investments LLC now owns 5,147 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 222 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock opened at $59.29 on Monday. The business has a 50 day simple moving average of $59.99 and a two-hundred day simple moving average of $60.05. Sun Life Financial Inc. has a 12 month low of $52.44 and a 12 month high of $66.81. The stock has a market capitalization of $33.32 billion, a P/E ratio of 14.67, a PEG ratio of 1.59 and a beta of 0.89.

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

Analyst Upgrades and Downgrades

SLF has been the subject of a number of analyst reports. National Bank Financial cut Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Barclays cut Sun Life Financial from an “equal weight” rating to an “underweight” rating in a report on Monday, July 7th. Scotiabank raised Sun Life Financial to a “hold” rating in a report on Thursday, July 31st. Finally, Argus raised Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sun Life Financial presently has an average rating of “Moderate Buy” and an average price target of $88.00.

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.