Sun Life Financial Inc. $SLF Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 33.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,811 shares of the financial services provider’s stock after selling 142,734 shares during the period. Pictet Asset Management Holding SA owned approximately 0.05% of Sun Life Financial worth $22,173,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SLF. Kestra Advisory Services LLC raised its position in shares of Sun Life Financial by 1.4% in the 3rd quarter. Kestra Advisory Services LLC now owns 21,362 shares of the financial services provider’s stock worth $1,666,000 after acquiring an additional 287 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Sun Life Financial by 1.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 56,302 shares of the financial services provider’s stock valued at $4,390,000 after purchasing an additional 778 shares during the period. Basso Capital Management L.P. bought a new stake in shares of Sun Life Financial during the third quarter valued at approximately $247,000. Bank Julius Baer & Co. Ltd Zurich boosted its position in shares of Sun Life Financial by 185.0% during the third quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,157 shares of the financial services provider’s stock valued at $90,000 after purchasing an additional 751 shares in the last quarter. Finally, Vise Technologies Inc. grew its stake in Sun Life Financial by 14.7% in the third quarter. Vise Technologies Inc. now owns 19,779 shares of the financial services provider’s stock worth $1,542,000 after purchasing an additional 2,531 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on SLF. Weiss Ratings raised Sun Life Financial from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 29th. Royal Bank Of Canada upped their target price on shares of Sun Life Financial from $98.00 to $119.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. National Bank Financial lowered shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 5th. UBS Group reiterated a “neutral” rating on shares of Sun Life Financial in a research note on Wednesday, September 2nd. Finally, Scotiabank raised shares of Sun Life Financial from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial has an average rating of “Hold” and a consensus target price of $103.50.

Sun Life Financial Trading Up 0.3%

SLF stock opened at $73.80 on Thursday. The stock has a market capitalization of $40.99 billion, a PE ratio of 12.86, a price-to-earnings-growth ratio of 1.92 and a beta of 0.86. Sun Life Financial Inc. has a 12-month low of $57.22 and a 12-month high of $84.38. The stock’s 50 day simple moving average is $78.89 and its 200 day simple moving average is $73.84.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, November 4th. The financial services provider reported $1.47 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.02. Sun Life Financial had a return on equity of 18.21% and a net margin of 8.62%. The business had revenue of $986.89 million during the quarter, compared to analyst estimates of $986.89 million. On average, research analysts predict that Sun Life Financial Inc. will post 5.46 earnings per share for the current year.

About Sun Life Financial

Sun Life Financial Inc. is a Canadian financial services company that provides insurance, wealth management and asset management services. Founded in 1865 as Sun Life Assurance Company of Canada, it has grown into an international business serving individual, workplace and institutional clients. The company offers life, health and dental insurance, disability coverage and group benefits, as well as savings, retirement and investment products. Its asset management businesses provide investment management services to individuals and institutions.