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

Key Points

• Amundi has reduced its holdings in Sun Life Financial Inc. by 0.3%, now owning approximately 1,677,345 shares valued at around $97.7 million.
• Analysts have mixed views on Sun Life Financial, with some maintaining a "Hold" rating and a target price increase to $88.00, while others downgraded their ratings.
• Sun Life Financial reported a quarterly EPS of $1.29, meeting consensus estimates, but its revenue of $6.65 billion fell short of analyst expectations.

Amundi lessened its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 0.3% in the first quarter, according to the company in 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 approximately 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 added to or reduced their stakes in the company. Federation des caisses Desjardins du Quebec lifted its holdings in shares of Sun Life Financial by 5.2% during the first quarter. Federation des caisses Desjardins du Quebec now owns 6,748,255 shares of the financial services provider's stock worth $385,740,000 after buying an additional 335,054 shares in the last quarter. Ewing Morris & Co. Investment Partners Ltd. acquired a new position in shares of Sun Life Financial during the 1st quarter worth approximately $233,000. Baird Financial Group Inc. increased its holdings in shares of Sun Life Financial by 7.2% during the first quarter. Baird Financial Group Inc. now owns 6,335 shares of the financial services provider's stock worth $363,000 after purchasing an additional 423 shares during the period. Evergreen Capital Management LLC raised its position in shares of Sun Life Financial by 5.1% in the first quarter. Evergreen Capital Management LLC now owns 7,418 shares of the financial services provider's stock valued at $425,000 after buying an additional 357 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in shares of Sun Life Financial by 47.2% in the first quarter. Canada Pension Plan Investment Board now owns 4,221,447 shares of the financial services provider's stock valued at $241,643,000 after buying an additional 1,353,508 shares in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock traded up $0.91 during midday trading on Thursday, hitting $59.59. 490,616 shares of the company traded hands, compared to its average volume of 602,817. Sun Life Financial Inc. has a 12 month low of $52.44 and a 12 month high of $66.81. The stock has a market cap of $33.50 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.57 and a beta of 0.89. The firm's fifty day moving average price is $60.10 and its 200-day moving average price is $59.95.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $7.34 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. Equities research analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. 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 raised Sun Life Financial to a "strong-buy" rating in a research note on Thursday, September 4th. Barclays lowered shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. Finally, Scotiabank upgraded shares of Sun Life Financial to a "hold" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average 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.