Sun Life Financial Inc. $SLF is QV Investors Inc.’s Largest Position

QV Investors Inc. decreased its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 10.1% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,194,699 shares of the financial services provider’s stock after selling 134,141 shares during the quarter. Sun Life Financial accounts for 7.8% of QV Investors Inc.’s portfolio, making the stock its largest position. QV Investors Inc.’s holdings in Sun Life Financial were worth $79,334,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Northern Trust Corp increased its position in Sun Life Financial by 5.9% during the first quarter. Northern Trust Corp now owns 522,752 shares of the financial services provider’s stock worth $29,933,000 after buying an additional 29,222 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Sun Life Financial by 19.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,220 shares of the financial services provider’s stock valued at $585,000 after purchasing an additional 1,645 shares during the period. Bank of Nova Scotia grew its position in shares of Sun Life Financial by 4.8% in the first 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 period. Cerity Partners LLC grew its position in shares of Sun Life Financial by 4.3% in the first quarter. Cerity Partners LLC now owns 24,889 shares of the financial services provider’s stock valued at $1,425,000 after purchasing an additional 1,022 shares during the period. Finally, Gulf International Bank UK Ltd grew its position in shares of Sun Life Financial by 2,729.4% in the first quarter. Gulf International Bank UK Ltd now owns 33,557 shares of the financial services provider’s stock valued at $1,921,000 after purchasing an additional 32,371 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on SLF shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sun Life Financial in a research report on Friday. Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. Evercore ISI reaffirmed an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. TD Securities raised Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Tuesday, October 7th. Finally, Argus upgraded Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.50.

Sun Life Financial Trading Up 0.1%

Shares of Sun Life Financial stock opened at $61.43 on Friday. Sun Life Financial Inc. has a twelve month low of $52.44 and a twelve month high of $66.81. The stock has a market capitalization of $34.30 billion, a P/E ratio of 15.20, a PEG ratio of 1.66 and a beta of 0.90. The business’s fifty day moving average price is $59.67 and its 200 day moving average price is $60.96.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.29. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The firm had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.34 billion. During the same quarter last year, the firm earned $1.11 earnings per share. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 EPS 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.