Triasima Portfolio Management inc. Sells 15,400 Shares of Sun Life Financial Inc. $SLF

Key Points

• Triasima Portfolio Management Inc. sold 15,400 shares of Sun Life Financial Inc., reducing its holdings by 22% to a total of 54,630 shares worth approximately $3.63 million.
• Sun Life Financial reported earnings of $1.29 EPS for the quarter, matching analyst expectations, but had revenue of $6.65 billion, falling short of the estimated $7.34 billion.
• Recent analyst ratings for Sun Life Financial vary, with a consensus rating of "Moderate Buy" and an average target price of $88.50, reflecting differing views on the stock's future performance.

Triasima Portfolio Management inc. trimmed its holdings in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 22.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 54,630 shares of the financial services provider's stock after selling 15,400 shares during the quarter. Triasima Portfolio Management inc.'s holdings in Sun Life Financial were worth $3,628,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SLF. Investment Management Corp VA ADV grew its position 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 valued at $35,000 after buying an additional 385 shares during the period. Hexagon Capital Partners LLC grew its position 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 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 approximately $55,000. Clean Yield Group grew 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 buying an additional 249 shares during the period. Finally, Farther Finance Advisors LLC grew its position in Sun Life Financial by 295.7% during the second quarter. Farther Finance Advisors LLC now owns 1,116 shares of the financial services provider's stock valued at $74,000 after buying an additional 834 shares during the period. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $60.81 on Wednesday. Sun Life Financial Inc. has a 1-year low of $52.44 and a 1-year high of $66.81. The company has a market capitalization of $37.37 billion, a P/E ratio of 15.05, a P/E/G ratio of 1.64 and a beta of 0.90. The firm's 50 day simple moving average is $59.14 and its two-hundred day simple moving average is $60.51.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, hitting the consensus estimate of $1.29. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The firm had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.34 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. On average, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SLF has been the subject of several recent research reports. Weiss Ratings restated a "buy (b)" rating on shares of Sun Life Financial in a research report on Saturday, September 27th. TD Securities upgraded shares of Sun Life Financial to a "buy" rating in a research report on Tuesday. Barclays downgraded shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. National Bank Financial downgraded shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Finally, Scotiabank raised shares of Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. One research analyst has rated the stock with a Strong Buy rating, four 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 stock currently has a consensus rating of "Moderate Buy" and an average target price of $88.50.

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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