AustralianSuper Pty Ltd Sells 1,224 Shares of Sun Life Financial Inc. $SLF

AustralianSuper Pty Ltd lowered its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.8% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 154,005 shares of the financial services provider’s stock after selling 1,224 shares during the quarter. AustralianSuper Pty Ltd’s holdings in Sun Life Financial were worth $10,254,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Trust Co. NA raised its position in shares of Sun Life Financial by 130.6% during the second quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 243 shares during the last quarter. Investment Management Corp VA ADV raised its position in shares of Sun Life Financial by 164.5% during the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 385 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Sun Life Financial by 53.2% during the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 231 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Sun Life Financial during the first quarter worth $55,000. Finally, Clean Yield Group grew its stake 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 worth $61,000 after purchasing an additional 249 shares during the period. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

SLF opened at $62.29 on Tuesday. Sun Life Financial Inc. has a 52-week low of $52.44 and a 52-week high of $66.81. The firm has a market capitalization of $34.78 billion, a PE ratio of 15.42, a PEG ratio of 1.66 and a beta of 0.90. The business’s 50-day simple moving average is $59.74 and its 200 day simple moving average is $61.05.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $7.34 billion. During the same quarter in the prior year, the company posted $1.11 earnings per share. On average, research analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on SLF shares. UBS Group started coverage on Sun Life Financial in a research note on Thursday, October 16th. They issued a “neutral” rating for the company. Scotiabank upgraded Sun Life Financial to a “hold” rating in a report on Thursday, July 31st. Argus upgraded Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. Evercore ISI restated an “outperform” rating on shares of Sun Life Financial in a report on Thursday, October 9th. Finally, TD Securities upgraded Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Sun Life Financial presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.50.

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.