TD Asset Management Inc Sells 303,824 Shares of Sun Life Financial Inc. $SLF

TD Asset Management Inc lessened its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,796,516 shares of the financial services provider’s stock after selling 303,824 shares during the period. Sun Life Financial makes up approximately 0.9% of TD Asset Management Inc’s portfolio, making the stock its 23rd biggest holding. TD Asset Management Inc’s holdings in Sun Life Financial were worth $1,048,972,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SLF. Investment Management Corp VA ADV boosted its position in Sun Life Financial by 164.5% in 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 last quarter. Hexagon Capital Partners LLC boosted its stake in Sun Life Financial by 53.2% in the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 231 shares during the last quarter. Clean Yield Group grew its position in shares of Sun Life Financial by 36.8% during the 2nd quarter. Clean Yield Group now owns 925 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 249 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in shares of Sun Life Financial during the 1st quarter worth approximately $55,000. Finally, Farther Finance Advisors LLC lifted its stake in Sun Life Financial by 295.7% in the second quarter. Farther Finance Advisors LLC now owns 1,116 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 834 shares during the last quarter. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Trading Up 0.7%

Shares of Sun Life Financial stock opened at $62.02 on Tuesday. The company’s 50-day moving average price is $59.20 and its 200-day moving average price is $60.66. The company has a market cap of $38.11 billion, a price-to-earnings ratio of 15.35, a PEG ratio of 1.66 and a beta of 0.90. Sun Life Financial Inc. has a 12-month low of $52.44 and a 12-month high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, meeting the consensus estimate 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 the consensus estimate of $7.34 billion. During the same period last year, the firm earned $1.11 EPS. On average, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SLF shares. Argus upgraded Sun Life Financial to a “strong-buy” rating in a research note on Thursday, September 4th. Weiss Ratings reiterated a “buy (b)” 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 note on Thursday. National Bank Financial lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Finally, Scotiabank raised shares of Sun Life Financial to a “hold” rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $88.50.

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.