USS Investment Management Ltd Has $4.24 Million Stock Holdings 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 reduced its stake 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 filing with the Securities & Exchange Commission. The institutional investor owned 74,027 shares of the financial services provider's stock after selling 64,200 shares during the period. USS Investment Management Ltd's holdings in Sun Life Financial were worth $4,237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Canada Pension Plan Investment Board lifted its holdings in shares of Sun Life Financial by 47.2% during the 1st quarter. Canada Pension Plan Investment Board now owns 4,221,447 shares of the financial services provider's stock valued at $241,643,000 after buying an additional 1,353,508 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Sun Life Financial by 2,071.4% during the 4th quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider's stock valued at $80,160,000 after buying an additional 1,288,545 shares during the last quarter. Value Partners Investments Inc. lifted its holdings in shares of Sun Life Financial by 1,002.9% during the 1st quarter. Value Partners Investments Inc. now owns 1,120,888 shares of the financial services provider's stock valued at $64,216,000 after buying an additional 1,019,254 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Sun Life Financial during the 1st quarter valued at about $50,968,000. Finally, 1832 Asset Management L.P. lifted its holdings in Sun Life Financial by 8.9% in 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 purchasing an additional 846,735 shares during the last quarter. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Stock Performance

Sun Life Financial stock traded up $0.91 on Thursday, reaching $59.59. The company's stock had a trading volume of 490,616 shares, compared to its average volume of 602,817. The company has a market cap of $33.50 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.57 and a beta of 0.89. The business's fifty day moving average price is $60.21 and its 200 day moving average price is $59.92. Sun Life Financial Inc. has a twelve month low of $52.44 and a twelve month high of $66.81.

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

Analyst Ratings Changes

Several research firms recently weighed in on SLF. Argus upgraded Sun Life Financial to a "strong-buy" rating in a report on Thursday, September 4th. Scotiabank upgraded Sun Life Financial to a "hold" rating in a research report on Thursday, July 31st. National Bank Financial cut Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 7th. Finally, Barclays cut Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.