Amundi Sells 5,519 Shares of Sun Life Financial Inc. $SLF

Amundi decreased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,677,345 shares of the financial services provider’s stock after selling 5,519 shares during the period. Amundi owned about 0.30% of Sun Life Financial worth $97,705,000 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 increased its stake in shares of Sun Life Financial by 164.5% during the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 385 shares during the period. Hexagon Capital Partners LLC increased its stake in shares of Sun Life Financial by 53.2% during the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 231 shares during the period. Financial Gravity Asset Management Inc. bought a new position in shares of Sun Life Financial during the first quarter worth approximately $55,000. CX Institutional bought a new position in shares of Sun Life Financial during the first quarter worth approximately $109,000. Finally, Harbour Investments Inc. increased its stake in shares of Sun Life Financial by 12.1% during the first quarter. Harbour Investments Inc. now owns 3,310 shares of the financial services provider’s stock worth $190,000 after purchasing an additional 357 shares during the period. Institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLF. BMO Capital Markets restated an “outperform” rating on shares of Sun Life Financial in a research note on Monday, May 12th. National Bank Financial lowered Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 7th. Royal Bank Of Canada raised their price objective on Sun Life Financial from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, May 12th. Barclays lowered Sun Life Financial from an “equal weight” rating to an “underweight” rating in a research note on Monday, July 7th. Finally, Scotiabank upgraded Sun Life Financial to a “hold” rating in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Sun Life Financial currently has a consensus rating of “Hold” and an average target price of $88.00.

Sun Life Financial Stock Performance

Shares of SLF opened at $57.73 on Friday. Sun Life Financial Inc. has a 52-week low of $52.44 and a 52-week high of $66.81. The business’s fifty day moving average is $60.64 and its 200-day moving average is $59.85. The firm has a market cap of $32.45 billion, a price-to-earnings ratio of 14.29, a PEG ratio of 1.55 and a beta of 0.89.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, meeting 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 company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.34 billion. During the same quarter last year, the company posted $1.11 EPS. As a group, research analysts forecast 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.