Sun Life Financial Inc. $SLF is Value Partners Investments Inc.’s 3rd Largest Position

Value Partners Investments Inc. lowered its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,117,570 shares of the financial services provider’s stock after selling 3,318 shares during the quarter. Sun Life Financial makes up about 5.8% of Value Partners Investments Inc.’s holdings, making the stock its 3rd biggest holding. Value Partners Investments Inc. owned about 0.20% of Sun Life Financial worth $74,223,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Northern Trust Corp lifted its stake in Sun Life Financial by 5.9% in the first quarter. Northern Trust Corp now owns 522,752 shares of the financial services provider’s stock worth $29,933,000 after acquiring an additional 29,222 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Sun Life Financial by 19.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,220 shares of the financial services provider’s stock worth $585,000 after acquiring an additional 1,645 shares during the last quarter. Bank of Nova Scotia lifted its stake in Sun Life Financial by 4.8% in the first quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider’s stock worth $330,848,000 after acquiring an additional 266,732 shares during the last quarter. Cerity Partners LLC lifted its stake in Sun Life Financial by 4.3% in the first quarter. Cerity Partners LLC now owns 24,889 shares of the financial services provider’s stock worth $1,425,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Gulf International Bank UK Ltd lifted its stake in Sun Life Financial by 2,729.4% in the first quarter. Gulf International Bank UK Ltd now owns 33,557 shares of the financial services provider’s stock worth $1,921,000 after acquiring an additional 32,371 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

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

Sun Life Financial Price Performance

Shares of Sun Life Financial stock opened at $59.29 on Friday. The firm’s fifty day simple moving average is $59.99 and its 200-day simple moving average is $60.01. The stock has a market capitalization of $33.32 billion, a price-to-earnings ratio of 14.67, a PEG ratio of 1.60 and a beta of 0.89. Sun Life Financial Inc. has a 12 month low of $52.44 and a 12 month high of $66.81.

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. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.34 billion. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. During the same period in the previous year, the company posted $1.11 EPS. Analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

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.