UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Cuts 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 position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 20.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLF. Brighton Jones LLC acquired a new position in Sun Life Financial during the fourth quarter worth about $244,000. BNP Paribas Financial Markets grew its position in Sun Life Financial by 155.6% during the fourth quarter. BNP Paribas Financial Markets now owns 26,154 shares of the financial services provider's stock worth $1,552,000 after buying an additional 15,921 shares during the period. Focus Partners Wealth acquired a new position in Sun Life Financial during the fourth quarter worth about $302,000. Gotham Asset Management LLC grew its position in Sun Life Financial by 43.3% during the fourth quarter. Gotham Asset Management LLC now owns 7,928 shares of the financial services provider's stock worth $470,000 after buying an additional 2,395 shares during the period. Finally, Quantinno Capital Management LP grew its position in Sun Life Financial by 5.6% during the fourth quarter. Quantinno Capital Management LP now owns 82,443 shares of the financial services provider's stock worth $4,892,000 after buying an additional 4,341 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Sun Life Financial Stock Up 1.3%

Shares of SLF traded up $0.75 on Friday, hitting $60.21. 438,507 shares of the stock traded hands, compared to its average volume of 591,782. The firm has a market capitalization of $33.75 billion, a P/E ratio of 14.90, a P/E/G ratio of 1.59 and a beta of 0.89. The stock's 50 day moving average is $59.72 and its two-hundred day moving average is $60.12. Sun Life Financial Inc. has a 1 year low of $52.44 and a 1 year high of $66.81.

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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.29. The business had revenue of $6.65 billion for 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 posted $1.11 earnings per share. Research analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Analysts Set New Price Targets

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

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.