Uhlmann Price Securities LLC Takes Position in Sun Life Financial Inc. $SLF

Key Points

• Uhlmann Price Securities LLC purchased a stake in Sun Life Financial Inc., acquiring 10,461 shares valued at approximately $695,000.
• Major hedge funds, including Vanguard Group Inc. and TD Asset Management Inc., have also increased their stakes in Sun Life Financial during the first quarter, reflecting growing institutional interest.
• Sun Life Financial's latest quarterly earnings met analysts' expectations with an EPS of $1.29, although revenue fell short of estimates at $6.65 billion.

Uhlmann Price Securities LLC bought a new stake in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,461 shares of the financial services provider's stock, valued at approximately $695,000.

A number of other hedge funds have also made changes to their positions in SLF. Vanguard Group Inc. increased its stake in Sun Life Financial by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 24,595,092 shares of the financial services provider's stock worth $1,407,626,000 after buying an additional 361,596 shares during the period. TD Asset Management Inc increased its stake in Sun Life Financial by 2.4% during the 1st quarter. TD Asset Management Inc now owns 16,100,340 shares of the financial services provider's stock worth $921,330,000 after buying an additional 374,682 shares during the period. 1832 Asset Management L.P. increased its stake in Sun Life Financial by 8.9% during the 1st quarter. 1832 Asset Management L.P. now owns 10,338,250 shares of the financial services provider's stock worth $591,968,000 after buying an additional 846,735 shares during the period. Federation des caisses Desjardins du Quebec increased its stake in Sun Life Financial by 5.2% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 6,748,255 shares of the financial services provider's stock worth $385,740,000 after buying an additional 335,054 shares during the period. Finally, Bank of Nova Scotia increased its stake in Sun Life Financial by 4.8% during the 1st quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider's stock worth $330,848,000 after buying an additional 266,732 shares during the period. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Stock Performance

NYSE SLF opened at $60.57 on Monday. Sun Life Financial Inc. has a one year low of $52.44 and a one year high of $66.81. The company has a 50-day simple moving average of $59.31 and a 200-day simple moving average of $60.75. The firm has a market capitalization of $33.83 billion, a PE ratio of 14.99, a price-to-earnings-growth ratio of 1.64 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, meeting 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 business 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 business posted $1.11 EPS. Equities analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Wall Street Analysts Forecast Growth

SLF has been the topic of several analyst reports. National Bank Financial downgraded shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. UBS Group initiated coverage on shares of Sun Life Financial in a report on Thursday. They set a "neutral" rating for the company. Evercore ISI reissued an "outperform" rating on shares of Sun Life Financial in a report on Thursday, October 9th. Morgan Stanley set a $89.00 price objective on shares of Sun Life Financial in a report on Tuesday, October 7th. Finally, Argus raised shares of Sun Life Financial to a "strong-buy" rating in a report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sun Life Financial presently has an average rating of "Moderate Buy" and a consensus 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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