Sun Life Financial Inc. $SLF Shares Sold by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 20.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 982,092 shares of the financial services provider’s stock after selling 253,792 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.17% of Sun Life Financial worth $56,235,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SLF. Investment Management Corp VA ADV grew its holdings in Sun Life Financial by 164.5% during the 1st 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 in the last quarter. Hexagon Capital Partners LLC grew its holdings in Sun Life Financial by 53.2% during the 1st 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 in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Sun Life Financial during the 1st quarter worth $55,000. CX Institutional acquired a new position in Sun Life Financial during the 1st quarter worth $109,000. Finally, Harbour Investments Inc. grew its holdings in Sun Life Financial by 12.1% during the 1st quarter. Harbour Investments Inc. now owns 3,310 shares of the financial services provider’s stock worth $190,000 after acquiring an additional 357 shares in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Sun Life Financial Stock Down 0.5%

Shares of NYSE:SLF opened at $59.29 on Monday. Sun Life Financial Inc. has a fifty-two week low of $52.44 and a fifty-two week high of $66.81. The company has a market cap of $33.32 billion, a PE ratio of 14.67, a P/E/G ratio of 1.59 and a beta of 0.89. The company’s 50-day moving average price is $59.99 and its 200 day moving average price is $60.05.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released 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. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The company had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.34 billion. During the same period in the previous year, the firm earned $1.11 EPS. As a group, equities analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current 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.