Sun Life Financial Inc. $SLF Shares Sold by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH sold 201,084 shares of Sun Life Financial, reducing its stake by 27.2% in the second quarter, now owning 0.10% of the company valued at $35.8 million.
• Institutional investments in Sun Life Financial include increases from Vanguard Group by 1.5%, TD Asset Management by 2.4%, and others, indicating ongoing confidence in the company.
• Stock analysts have mixed ratings on Sun Life Financial, with one upgrading it to "strong-buy" while another downgraded it to "hold," reflecting varying market sentiments.

Allianz Asset Management GmbH lessened its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 27.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 539,307 shares of the financial services provider's stock after selling 201,084 shares during the period. Allianz Asset Management GmbH owned 0.10% of Sun Life Financial worth $35,812,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Sun Life Financial by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 24,595,092 shares of the financial services provider's stock valued at $1,407,626,000 after acquiring an additional 361,596 shares during the period. TD Asset Management Inc increased its position in 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 acquiring an additional 374,682 shares during the period. 1832 Asset Management L.P. increased its position in Sun Life Financial by 8.9% in the 1st quarter. 1832 Asset Management L.P. now owns 10,338,250 shares of the financial services provider's stock valued at $591,968,000 after acquiring an additional 846,735 shares during the period. Federation des caisses Desjardins du Quebec increased its position in Sun Life Financial by 5.2% in the 1st quarter. Federation des caisses Desjardins du Quebec now owns 6,748,255 shares of the financial services provider's stock valued at $385,740,000 after acquiring an additional 335,054 shares during the period. Finally, Bank of Nova Scotia increased its position in Sun Life Financial by 4.8% in the 1st quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider's stock valued at $330,848,000 after acquiring an additional 266,732 shares during the period. Institutional investors and hedge funds own 52.26% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. National Bank Financial cut Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Argus upgraded Sun Life Financial to a "strong-buy" rating in a research report on Thursday, September 4th. Barclays reiterated an "underweight" rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. TD Securities upgraded Sun Life Financial from a "hold" rating to a "buy" rating in a research report on Tuesday, October 7th. Finally, Evercore ISI reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, October 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.50.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $60.57 on Friday. The business's 50 day simple moving average is $59.31 and its 200-day simple moving average is $60.74. The firm has a market capitalization of $37.22 billion, a price-to-earnings ratio of 14.99, a price-to-earnings-growth ratio of 1.64 and a beta of 0.90. 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 announced its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, hitting the consensus estimate of $1.29. The business had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.34 billion. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same quarter in the previous year, the company earned $1.11 EPS. On average, equities analysts anticipate 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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