Sun Life Financial Inc. $SLF Shares Bought by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Sun Life Financial Inc. by 7.4%, now owning 180,809 shares valued at approximately $10.35 million.
• Several institutional investors, including Wellington Management Group, significantly boosted their holdings in Sun Life Financial, indicating strong institutional interest in the stock.
• Sun Life Financial's earnings report showed an EPS of $1.29 for the quarter, aligning with analyst expectations, though revenue fell short of consensus estimates at $6.65 billion.

American Century Companies Inc. boosted its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 7.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 180,809 shares of the financial services provider's stock after acquiring an additional 12,510 shares during the period. American Century Companies Inc.'s holdings in Sun Life Financial were worth $10,348,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of SLF. Wellington Management Group LLP boosted its holdings in shares of Sun Life Financial by 2,071.4% in the 4th quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock valued at $80,160,000 after buying an additional 1,288,545 shares in the last quarter. Value Partners Investments Inc. boosted its holdings in shares of Sun Life Financial by 1,002.9% in the 1st quarter. Value Partners Investments Inc. now owns 1,120,888 shares of the financial services provider's stock valued at $64,216,000 after buying an additional 1,019,254 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of Sun Life Financial in the 1st quarter valued at $50,968,000. Nuveen LLC acquired a new position in shares of Sun Life Financial in the 1st quarter valued at $23,135,000. Finally, TD Asset Management Inc boosted its holdings in shares of Sun Life Financial by 2.4% in the 1st quarter. TD Asset Management Inc now owns 16,100,340 shares of the financial services provider's stock valued at $921,330,000 after buying an additional 374,682 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SLF shares. 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. Barclays cut shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research note on Monday, May 12th. Scotiabank upgraded shares of Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada increased their price target on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research note on Monday, May 12th. Two analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $88.00.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at $58.54 on Wednesday. The company has a market cap of $32.97 billion, a P/E ratio of 14.49, a PEG ratio of 1.56 and a beta of 0.90. Sun Life Financial Inc. has a one year low of $52.44 and a one year high of $66.81. The firm has a fifty day moving average of $61.72 and a two-hundred day moving average of $59.80.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, hitting analysts' consensus estimates of $1.29. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $1.11 EPS. As a group, equities analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

About Sun Life Financial

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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