Cwm LLC Grows Position in Sun Life Financial Inc. $SLF

Cwm LLC raised its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 27.8% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,420 shares of the financial services provider’s stock after acquiring an additional 1,396 shares during the period. Cwm LLC’s holdings in Sun Life Financial were worth $427,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Sun Life Financial by 1.5% in 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 acquiring an additional 361,596 shares in the last quarter. TD Asset Management Inc raised its holdings in shares of Sun Life Financial by 2.4% in the 1st quarter. TD Asset Management Inc now owns 16,100,340 shares of the financial services provider’s stock valued at $921,330,000 after acquiring an additional 374,682 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in shares of Sun Life Financial by 8.9% in the 1st 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 in the last quarter. Federation des caisses Desjardins du Quebec increased its position in shares of Sun Life Financial by 5.2% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 6,748,255 shares of the financial services provider’s stock valued at $385,740,000 after purchasing an additional 335,054 shares during the last quarter. Finally, Bank of Nova Scotia increased its position in shares of Sun Life Financial by 4.8% during the 1st quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider’s stock valued at $330,848,000 after purchasing an additional 266,732 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

SLF opened at $61.43 on Friday. The stock’s 50 day simple moving average is $59.67 and its 200 day simple moving average is $60.91. Sun Life Financial Inc. has a 1 year low of $52.44 and a 1 year high of $66.81. The firm has a market cap of $34.30 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.66 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly 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 period last year, the company earned $1.11 EPS. As a group, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a research report on Friday. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. Evercore ISI reiterated an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. UBS Group assumed coverage on Sun Life Financial in a research report on Thursday, October 16th. They set a “neutral” rating on the stock. Finally, Scotiabank upgraded 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 given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.50.

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.