Acadian Asset Management LLC Has $5.78 Million Stock Holdings in Sun Life Financial Inc. $SLF

Acadian Asset Management LLC lifted its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 45.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,000 shares of the financial services provider’s stock after acquiring an additional 31,500 shares during the period. Acadian Asset Management LLC’s holdings in Sun Life Financial were worth $5,776,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Benjamin Edwards Inc. lifted its position in Sun Life Financial by 3.4% in the first quarter. Benjamin Edwards Inc. now owns 5,052 shares of the financial services provider’s stock worth $289,000 after purchasing an additional 167 shares during the period. NorthCrest Asset Manangement LLC raised its holdings in shares of Sun Life Financial by 1.7% in the first quarter. NorthCrest Asset Manangement LLC now owns 10,801 shares of the financial services provider’s stock valued at $618,000 after buying an additional 180 shares during the last quarter. HighPoint Advisor Group LLC raised its holdings in shares of Sun Life Financial by 4.4% in the first quarter. HighPoint Advisor Group LLC now owns 4,330 shares of the financial services provider’s stock valued at $256,000 after buying an additional 181 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in shares of Sun Life Financial by 0.4% in the first quarter. Public Sector Pension Investment Board now owns 55,447 shares of the financial services provider’s stock valued at $3,173,000 after buying an additional 200 shares during the last quarter. Finally, Tidal Investments LLC increased its position in Sun Life Financial by 4.5% in the fourth quarter. Tidal Investments LLC now owns 5,147 shares of the financial services provider’s stock worth $305,000 after purchasing an additional 222 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Price Performance

SLF stock opened at $59.29 on Friday. The company has a fifty day moving average price of $59.99 and a two-hundred day moving average price of $60.01. Sun Life Financial Inc. has a one year low of $52.44 and a one year high of $66.81. The stock has a market cap of $33.32 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.60 and a beta of 0.89.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, hitting analysts’ consensus estimates of $1.29. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.34 billion. During the same period in the previous year, the business posted $1.11 earnings per share. Research analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About Sun Life Financial

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.