Vontobel Holding Ltd. Trims Holdings in Sun Life Financial Inc. $SLF

Vontobel Holding Ltd. decreased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 87.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,749 shares of the financial services provider’s stock after selling 40,178 shares during the quarter. Vontobel Holding Ltd.’s holdings in Sun Life Financial were worth $383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Investment Management Corp VA ADV raised its position in Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 385 shares during the last quarter. Hexagon Capital Partners LLC raised its position in Sun Life Financial by 53.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 231 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Sun Life Financial during the 1st quarter worth $55,000. Clean Yield Group raised its position in Sun Life Financial by 36.8% during the 2nd quarter. Clean Yield Group now owns 925 shares of the financial services provider’s stock worth $61,000 after buying an additional 249 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its position in Sun Life Financial by 295.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,116 shares of the financial services provider’s stock worth $74,000 after buying an additional 834 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SLF. Evercore ISI restated an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. Morgan Stanley set a $89.00 price objective on shares of Sun Life Financial in a research report on Tuesday, October 7th. National Bank Financial downgraded shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research report on Thursday, September 4th. Finally, Scotiabank upgraded shares of Sun Life Financial to a “hold” rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $88.50.

Sun Life Financial Stock Up 0.6%

NYSE:SLF opened at $62.42 on Wednesday. Sun Life Financial Inc. has a fifty-two week low of $52.44 and a fifty-two week high of $66.81. The stock has a market cap of $38.36 billion, a PE ratio of 15.45, a price-to-earnings-growth ratio of 1.67 and a beta of 0.90. The firm’s fifty day simple moving average is $59.23 and its 200-day simple moving average is $60.67.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, meeting analysts’ consensus estimates of $1.29. The firm had revenue of $6.65 billion for 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 period in the prior year, the company earned $1.11 EPS. Equities analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Company 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.