Sun Life Financial Inc. $SLF Holdings Reduced by Generali Asset Management SPA SGR

Key Points

• Generali Asset Management SPA SGR has reduced its holdings in Sun Life Financial Inc. by 19.2% during the second quarter, now owning 41,013 shares valued at approximately $2.7 million.
• Several institutional investors increased their stakes in Sun Life Financial, with Farther Finance Advisors LLC notably increasing its holdings by 295.7% during the same period.
• Wall Street analysts generally rate Sun Life Financial positively, with a consensus rating of "Moderate Buy" and a price target of $88.50, despite mixed ratings from different firms.

Generali Asset Management SPA SGR lowered its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 19.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 41,013 shares of the financial services provider's stock after selling 9,715 shares during the quarter. Generali Asset Management SPA SGR's holdings in Sun Life Financial were worth $2,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Investment Management Corp VA ADV increased its stake in shares of Sun Life Financial by 164.5% in the first 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 during the period. Hexagon Capital Partners LLC increased its stake in shares of 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. acquired a new stake in shares of Sun Life Financial in the first quarter valued at approximately $55,000. Clean Yield Group increased its stake in shares of 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 increased its stake in shares of Sun Life Financial by 295.7% in the second 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 during the period. Institutional investors and hedge funds own 52.26% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Scotiabank upgraded shares of Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. Morgan Stanley set a $89.00 price objective on shares of Sun Life Financial in a report on Tuesday, October 7th. National Bank Financial cut shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. UBS Group began coverage on shares of Sun Life Financial in a report on Thursday. They issued a "neutral" rating for the company. Finally, TD Securities upgraded shares of Sun Life Financial from a "hold" rating to a "buy" rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $88.50.

Sun Life Financial Stock Performance

Shares of NYSE:SLF opened at $61.02 on Friday. The stock has a market capitalization 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 Inc. has a 1-year low of $52.44 and a 1-year high of $66.81. The company has a 50 day moving average price of $59.23 and a 200 day moving average price of $60.70.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued 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. The firm had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $7.34 billion. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. During the same period last year, the firm posted $1.11 earnings per share. On average, sell-side analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

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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