Acadian Asset Management LLC Purchases 31,500 Shares of Sun Life Financial Inc. $SLF

Key Points

• Acadian Asset Management LLC increased its stake in Sun Life Financial Inc. by 45.3% during the first quarter, holding 101,000 shares worth approximately $5.78 million.
• Sun Life Financial reported a quarterly earnings per share (EPS) of $1.29, matching analysts' expectations, but missed revenue projections with $6.65 billion against expected $7.34 billion.
• Several analysts adjusted their ratings for Sun Life Financial, with National Bank Financial downgrading it to a "hold" while Argus upgraded it to a "strong-buy", reflecting mixed sentiment among industry experts.

Acadian Asset Management LLC raised its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 45.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 101,000 shares of the financial services provider's stock after buying an additional 31,500 shares during the quarter. Acadian Asset Management LLC's holdings in Sun Life Financial were worth $5,776,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in SLF. Investment Management Corp VA ADV lifted its position 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 acquiring an additional 385 shares in the last quarter. Hexagon Capital Partners LLC lifted its position 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 acquiring an additional 231 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Sun Life Financial during the first quarter worth $55,000. CX Institutional purchased a new stake in shares of Sun Life Financial during the first quarter worth $109,000. Finally, Harbour Investments Inc. lifted its position 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 acquiring an additional 357 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Stock Performance

Shares of NYSE SLF traded up $0.38 during trading hours on Thursday, hitting $59.45. The company's stock had a trading volume of 272,675 shares, compared to its average volume of 599,177. The stock has a market cap of $33.32 billion, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.58 and a beta of 0.89. Sun Life Financial Inc. has a 12 month low of $52.44 and a 12 month high of $66.81. The business has a 50-day simple moving average of $59.75 and a 200-day simple moving average of $60.09.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, meeting the consensus estimate of $1.29. The business had revenue of $6.65 billion for the quarter, compared to analysts' expectations of $7.34 billion. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same period in the previous year, the firm posted $1.11 EPS. On average, equities research analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SLF. National Bank Financial downgraded Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Argus upgraded Sun Life Financial to a "strong-buy" rating in a research report on Thursday, September 4th. Scotiabank upgraded Sun Life Financial to a "hold" rating in a research report on Thursday, July 31st. Finally, Barclays downgraded Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research report on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $88.00.

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.