Montrusco Bolton Investments Inc. Increases Holdings in Sun Life Financial Inc. $SLF

Key Points

• Montrusco Bolton Investments Inc. increased its holdings in Sun Life Financial Inc. by 4.6%, owning a total of 368,367 shares valued at $24.46 million as of the end of the second quarter.
• Sun Life Financial reported earnings per share (EPS) of $1.29 for the last quarter, meeting consensus estimates, while revenue fell short of expectations at $6.65 billion.
• Analysts have mixed ratings on Sun Life Financial, with one analyst issuing a Strong Buy rating and others maintaining Hold or Sell ratings, resulting in an average target price of $88.50.

Montrusco Bolton Investments Inc. raised its holdings in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 4.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 368,367 shares of the financial services provider's stock after purchasing an additional 16,217 shares during the period. Montrusco Bolton Investments Inc. owned about 0.07% of Sun Life Financial worth $24,462,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Investment Management Corp VA ADV lifted its position in 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 buying an additional 385 shares in the last quarter. Hexagon Capital Partners LLC raised its position 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 purchasing an additional 231 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in Sun Life Financial in the first quarter valued at $55,000. Clean Yield Group raised its position in Sun Life Financial by 36.8% in the second quarter. Clean Yield Group now owns 925 shares of the financial services provider's stock valued at $61,000 after purchasing an additional 249 shares during the period. Finally, Farther Finance Advisors LLC raised its holdings in shares of 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 buying an additional 834 shares during the period. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $61.59 on Monday. 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 $37.85 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.66 and a beta of 0.90. The stock's 50 day moving average price is $59.18 and its 200 day moving average price is $60.62.

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

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Barclays reaffirmed an "underweight" rating on shares of Sun Life Financial in a research report on Wednesday. Scotiabank upgraded Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. Morgan Stanley set a $89.00 price objective on Sun Life Financial in a report on Tuesday, October 7th. TD Securities raised Sun Life Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, October 7th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Sun Life Financial in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.

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