Sun Life Financial Inc. $SLF Shares Sold by State of Wyoming

State of Wyoming decreased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 89.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 986 shares of the financial services provider’s stock after selling 8,261 shares during the quarter. State of Wyoming’s holdings in Sun Life Financial were worth $56,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Sun Life Financial by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 24,595,092 shares of the financial services provider’s stock valued at $1,407,626,000 after purchasing an additional 361,596 shares during the period. TD Asset Management Inc boosted its holdings in Sun Life Financial by 2.4% in the first quarter. TD Asset Management Inc now owns 16,100,340 shares of the financial services provider’s stock worth $921,330,000 after purchasing an additional 374,682 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in Sun Life Financial by 8.9% during the first quarter. 1832 Asset Management L.P. now owns 10,338,250 shares of the financial services provider’s stock valued at $591,968,000 after acquiring an additional 846,735 shares during the period. Bank of Nova Scotia boosted its holdings in Sun Life Financial by 4.8% during the first quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider’s stock valued at $330,848,000 after acquiring an additional 266,732 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in Sun Life Financial by 7.1% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,957,785 shares of the financial services provider’s stock valued at $283,792,000 after acquiring an additional 327,388 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SLF shares. Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research note on Thursday, September 4th. National Bank Financial cut shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. Scotiabank upgraded shares of Sun Life Financial to a “hold” rating in a research note on Thursday, July 31st. Finally, Barclays cut shares of Sun Life Financial from an “equal weight” rating to an “underweight” rating in a research note on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Sun Life Financial presently has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Sun Life Financial Stock Up 0.1%

Shares of SLF opened at $58.50 on Wednesday. The stock has a market cap of $32.88 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 1.57 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. The company has a 50-day moving average price of $60.32 and a two-hundred day moving average price of $59.92.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, hitting analysts’ consensus estimates of $1.29. The firm had revenue of $6.65 billion during 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 quarter last year, the company earned $1.11 earnings per share. Equities research analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal 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.