UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Reduces Stock Holdings in Sun Life Financial Inc. $SLF

Key Points

• UBS Asset Management reduced its stake in Sun Life Financial by 20.5%, selling 253,792 shares, leaving them with approximately 982,092 shares valued at around $56.2 million.
• Several hedge funds like Investment Management Corp VA ADV and Hexagon Capital Partners LLC increased their holdings significantly during the same quarter.
• Sun Life Financial's stock maintains a consensus rating of "Moderate Buy" with a target price of $88.00, amid varied analyst opinions.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC reduced its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 20.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 982,092 shares of the financial services provider's stock after selling 253,792 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.17% of Sun Life Financial worth $56,235,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Investment Management Corp VA ADV increased its stake 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 purchasing an additional 385 shares during the period. Hexagon Capital Partners LLC increased its stake in Sun Life Financial by 53.2% during the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock worth $38,000 after purchasing an additional 231 shares during the period. Financial Gravity Asset Management Inc. purchased a new stake in Sun Life Financial during the first quarter worth about $55,000. CX Institutional purchased a new stake in Sun Life Financial during the first quarter worth about $109,000. Finally, Harbour Investments Inc. increased its stake in Sun Life Financial by 12.1% during the first quarter. Harbour Investments Inc. now owns 3,310 shares of the financial services provider's stock worth $190,000 after purchasing an additional 357 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SLF shares. Scotiabank upgraded shares of Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. Barclays cut shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. Argus raised shares of Sun Life Financial to a "strong-buy" rating in a report on Thursday, September 4th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Sun Life Financial Price Performance

Shares of SLF stock traded down $0.88 during trading hours on Tuesday, hitting $58.81. The stock had a trading volume of 520,716 shares, compared to its average volume of 590,816. The firm has a market capitalization of $33.06 billion, a PE ratio of 14.56, a PEG ratio of 1.60 and a beta of 0.89. Sun Life Financial Inc. has a twelve month low of $52.44 and a twelve month high of $66.81. The stock's 50 day moving average is $59.92 and its 200 day moving average is $60.08.

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

Sun Life Financial Company 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.