Sequoia Financial Advisors LLC Acquires 8,065 Shares of Sun Life Financial Inc. $SLF

Key Points

• Sequoia Financial Advisors LLC significantly increased its holdings in Sun Life Financial Inc. by 71.7%, acquiring an additional 8,065 shares during the second quarter, bringing its total ownership to 19,318 shares valued at approximately $1.28 million.
• Sun Life Financial recently reported $1.29 earnings per share, matching analysts' expectations, but fell short on revenue with $6.65 billion against an anticipated $7.34 billion.
• Research analysts have mixed ratings for Sun Life Financial, with one Strong Buy, five Buy, three Hold, and one Sell rating, reflecting a consensus price target of $88.50.

Sequoia Financial Advisors LLC raised its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 71.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,318 shares of the financial services provider's stock after acquiring an additional 8,065 shares during the quarter. Sequoia Financial Advisors LLC's holdings in Sun Life Financial were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of SLF. Investment Management Corp VA ADV grew its position in shares of Sun Life Financial by 164.5% during 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 grew its position in shares of Sun Life Financial by 53.2% during 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 shares of Sun Life Financial during the 1st quarter valued at $55,000. Clean Yield Group grew its position in shares of Sun Life Financial by 36.8% during the 2nd 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 in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Sun Life Financial by 295.7% during 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. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Down 1.8%

NYSE SLF opened at $61.02 on Friday. The company has a 50-day simple moving average of $59.23 and a two-hundred day simple moving average of $60.70. Sun Life Financial Inc. has a 12-month low of $52.44 and a 12-month high of $66.81. The firm has a market cap of $37.50 billion, a price-to-earnings ratio of 15.10, a PEG ratio of 1.68 and a beta of 0.90.

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 net margin of 7.59% and a return on equity of 17.21%. The business had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.34 billion. During the same period in the prior year, the business posted $1.11 earnings per share. Equities analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Evercore ISI restated an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, October 9th. TD Securities upgraded shares of Sun Life Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, October 7th. National Bank Financial lowered shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Scotiabank upgraded shares of Sun Life Financial to a "hold" rating in a research report on Thursday, July 31st. Finally, Barclays reiterated an "underweight" rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target 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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