Candriam Luxembourg S.C.A. cut its stake in Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 10.6% in the first quarter, HoldingsChannel.com reports. The firm owned 44,731 shares of the financial services provider’s stock after selling 5,297 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Sun Life Financial were worth $1,719,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in SLF. Norges Bank acquired a new position in Sun Life Financial in the 4th quarter worth $156,689,000. Mackenzie Financial Corp boosted its stake in Sun Life Financial by 53.2% in the 4th quarter. Mackenzie Financial Corp now owns 8,668,680 shares of the financial services provider’s stock worth $287,713,000 after purchasing an additional 3,009,510 shares during the period. Beutel Goodman & Co Ltd. boosted its stake in Sun Life Financial by 10.7% in the 1st quarter. Beutel Goodman & Co Ltd. now owns 14,207,568 shares of the financial services provider’s stock worth $545,823,000 after purchasing an additional 1,374,903 shares during the period. JPMorgan Chase & Co. boosted its stake in Sun Life Financial by 285.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,119,946 shares of the financial services provider’s stock worth $44,529,000 after purchasing an additional 829,711 shares during the period. Finally, Letko Brosseau & Associates Inc. boosted its stake in Sun Life Financial by 9.7% in the 4th quarter. Letko Brosseau & Associates Inc. now owns 8,539,210 shares of the financial services provider’s stock worth $283,161,000 after purchasing an additional 755,590 shares during the period. 42.07% of the stock is owned by hedge funds and other institutional investors.
Sun Life Financial stock opened at $39.40 on Wednesday. Sun Life Financial Inc has a one year low of $31.49 and a one year high of $43.99. The stock has a market cap of $23.23 billion, a PE ratio of 10.51 and a beta of 0.88.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Wednesday, May 8th. The financial services provider reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.29. Sun Life Financial had a net margin of 7.96% and a return on equity of 13.58%. The company had revenue of $11.39 billion during the quarter, compared to the consensus estimate of $7.35 billion. During the same period in the prior year, the business posted $1.26 EPS. The company’s quarterly revenue was up 90.1% on a year-over-year basis. Research analysts anticipate that Sun Life Financial Inc will post 3.74 earnings per share for the current year.
A number of brokerages recently weighed in on SLF. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 target price on shares of Sun Life Financial in a research note on Friday, April 26th. Canaccord Genuity restated a “hold” rating on shares of Sun Life Financial in a research note on Tuesday, February 5th. CIBC downgraded shares of Sun Life Financial from a “neutral” rating to an “underperform” rating and increased their price objective for the stock from $53.00 to $54.00 in a research note on Thursday, March 14th. Scotiabank restated a “hold” rating and set a $54.00 price objective on shares of Sun Life Financial in a research note on Wednesday, February 20th. Finally, ValuEngine upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $52.60.
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Sun Life Financial Company Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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