TD Asset Management Inc Has $1.05 Billion Stock Holdings in Sun Life Financial Inc. $SLF

Key Points

• TD Asset Management Inc has reduced its stake in Sun Life Financial Inc. by 1.9%, now holding approximately $1.05 billion worth of shares.
• Despite the reduction, institutional investors continue to favor Sun Life Financial, with 52.26% of the company's stock owned by these investors.
• Recent analyst ratings for Sun Life Financial include a mixture of upgrades and downgrades, with a consensus target price of $88.50.

TD Asset Management Inc cut its stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 1.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,796,516 shares of the financial services provider's stock after selling 303,824 shares during the period. Sun Life Financial accounts for 0.9% of TD Asset Management Inc's investment portfolio, making the stock its 23rd largest holding. TD Asset Management Inc owned about 2.80% of Sun Life Financial worth $1,048,972,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Investment Management Corp VA ADV boosted its stake in shares of Sun Life Financial by 164.5% in the 1st 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 last quarter. Hexagon Capital Partners LLC lifted its holdings in 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 buying an additional 231 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in Sun Life Financial during the first quarter valued at $55,000. Clean Yield Group boosted its position in Sun Life Financial by 36.8% during the second quarter. Clean Yield Group now owns 925 shares of the financial services provider's stock valued at $61,000 after acquiring an additional 249 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in Sun Life Financial by 295.7% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,116 shares of the financial services provider's stock worth $74,000 after acquiring an additional 834 shares during the period. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Price Performance

Shares of NYSE SLF opened at $62.02 on Tuesday. Sun Life Financial Inc. has a 1 year low of $52.44 and a 1 year high of $66.81. The stock has a market capitalization of $38.11 billion, a P/E ratio of 15.35, a P/E/G ratio of 1.66 and a beta of 0.90. The company has a 50-day moving average price of $59.20 and a 200-day moving average price of $60.66.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued 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. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The firm had revenue of $6.65 billion during the quarter, compared to analyst estimates of $7.34 billion. During the same period in the previous year, the company posted $1.11 EPS. As a group, equities research analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SLF has been the topic of a number of recent analyst reports. Weiss Ratings reissued a "buy (b)" rating on shares of Sun Life Financial in a research note on Wednesday, October 8th. Evercore ISI reiterated an "outperform" rating on shares of Sun Life Financial in a report on Thursday. Barclays reissued an "underweight" rating on shares of Sun Life Financial in a research note on Wednesday, October 8th. Argus raised shares of Sun Life Financial to a "strong-buy" rating in a research report on Thursday, September 4th. Finally, TD Securities upgraded shares of Sun Life Financial from a "hold" rating to a "buy" rating in a research note on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $88.50.

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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