Sun Life Financial Inc. $SLF Position Raised by Cardinal Capital Management Inc.

Key Points

• Cardinal Capital Management Inc. increased its stake in Sun Life Financial Inc. by 0.8% during the second quarter, holding approximately 1.14 million shares valued at about $75.71 million.
• Sun Life Financial reported an EPS of $1.29 for the latest quarter, matching analysts' expectations, but fell short of revenue estimates at $6.65 billion.
• Wall Street analysts have a consensus rating of "Moderate Buy" for Sun Life Financial, with price target estimates averaging $88.00.

Cardinal Capital Management Inc. increased its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 0.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,138,144 shares of the financial services provider's stock after buying an additional 9,005 shares during the period. Sun Life Financial comprises about 2.4% of Cardinal Capital Management Inc.'s holdings, making the stock its 20th largest position. Cardinal Capital Management Inc. owned about 0.20% of Sun Life Financial worth $75,705,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLF. Investment Management Corp VA ADV lifted its holdings in Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock valued at $35,000 after purchasing an additional 385 shares in the last quarter. Hexagon Capital Partners LLC lifted its holdings in Sun Life Financial by 53.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 231 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Sun Life Financial in the 1st quarter valued at about $55,000. Farther Finance Advisors LLC lifted its holdings in Sun Life Financial by 295.7% in the 2nd 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 in the last quarter. Finally, Ryan Investment Management Inc. purchased a new position in Sun Life Financial in the 2nd quarter valued at about $90,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Sun Life Financial Stock Down 0.3%

Shares of SLF traded down $0.18 during mid-day trading on Tuesday, reaching $59.74. 123,577 shares of the stock traded hands, compared to its average volume of 678,684. The firm has a market cap of $33.48 billion, a price-to-earnings ratio of 14.79, a P/E/G ratio of 1.61 and a beta of 0.89. The stock has a fifty day simple moving average of $59.66 and a 200 day simple moving average of $60.21. 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 - 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 (EPS) for the quarter, meeting 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 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 firm posted $1.11 earnings per share. On average, equities research analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal 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.