USS Investment Management Ltd Cuts Stock Position in Sun Life Financial Inc. $SLF

Key Points

• USS Investment Management Ltd significantly reduced its stake in Sun Life Financial Inc. by 46.4%, selling 64,200 shares and leaving it with 74,027 shares valued at approximately $4.24 million.
• Sun Life Financial's recent earnings report revealed an EPS of $1.29, meeting analysts' expectations, but the company's revenue fell short, totaling $6.65 billion against a $7.34 billion forecast.
• Analysts have mixed ratings on Sun Life Financial, with two ratings for Buy, two for Hold, and one for Sell, resulting in a consensus rating of "Hold" and an average target price of $88.00.

USS Investment Management Ltd decreased its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 46.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 74,027 shares of the financial services provider's stock after selling 64,200 shares during the quarter. USS Investment Management Ltd's holdings in Sun Life Financial were worth $4,237,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northern Trust Corp boosted its position in shares of Sun Life Financial by 5.9% during the 1st quarter. Northern Trust Corp now owns 522,752 shares of the financial services provider's stock valued at $29,933,000 after acquiring an additional 29,222 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in shares of Sun Life Financial by 19.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,220 shares of the financial services provider's stock valued at $585,000 after acquiring an additional 1,645 shares during the last quarter. Bank of Nova Scotia boosted its position in shares of 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 valued at $330,848,000 after acquiring an additional 266,732 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Sun Life Financial by 4.3% during the 1st quarter. Cerity Partners LLC now owns 24,889 shares of the financial services provider's stock valued at $1,425,000 after acquiring an additional 1,022 shares during the last quarter. Finally, Gulf International Bank UK Ltd boosted its position in shares of Sun Life Financial by 2,729.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 33,557 shares of the financial services provider's stock valued at $1,921,000 after acquiring an additional 32,371 shares during the last quarter. Institutional investors and hedge funds own 52.26% of the company's stock.

Sun Life Financial Stock Down 0.5%

NYSE:SLF traded down $0.33 on Friday, reaching $59.29. 429,635 shares of the company's stock were exchanged, compared to its average volume of 601,900. The firm has a market capitalization of $33.32 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 1.59 and a beta of 0.89. The business has a fifty day moving average of $59.99 and a 200-day moving average of $60.05. Sun Life Financial Inc. has a 52-week low of $52.44 and a 52-week high of $66.81.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.29. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm earned $1.11 earnings per share. As a group, equities analysts anticipate that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Barclays cut shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research report on Monday, July 7th. National Bank Financial lowered shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Argus upgraded shares of Sun Life Financial to a "strong-buy" rating in a report on Thursday, September 4th. Finally, Scotiabank upgraded shares of Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. One equities 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 issued a Sell rating to the company's stock. According to MarketBeat, Sun Life Financial has a consensus rating of "Moderate Buy" and an average target price of $88.00.

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.