Plato Investment Management Ltd Has $66,000 Stake in Sun Life Financial Inc. $SLF

Plato Investment Management Ltd trimmed its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 34.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,148 shares of the financial services provider’s stock after selling 597 shares during the period. Plato Investment Management Ltd’s holdings in Sun Life Financial were worth $66,000 as of its most recent filing with the Securities and Exchange Commission.

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

Sun Life Financial Stock Performance

NYSE SLF opened at $59.29 on Friday. The firm’s fifty day moving average price is $59.99 and its two-hundred day moving average price is $59.97. The stock has a market cap of $33.32 billion, a PE ratio of 14.67, a PEG ratio of 1.60 and a beta of 0.89. Sun Life Financial Inc. has a fifty-two week low of $52.44 and a fifty-two week high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 earnings per share 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 company had revenue of $6.65 billion for the quarter, compared to analysts’ expectations of $7.34 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. As a group, sell-side analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SLF has been the subject of several research analyst reports. Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research report on Thursday, September 4th. National Bank Financial downgraded shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Scotiabank upgraded shares of Sun Life Financial to a “hold” rating in a research report on Thursday, July 31st. Finally, Barclays cut shares of Sun Life Financial from an “equal weight” rating to an “underweight” rating in a research note on Monday, July 7th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Sun Life Financial currently 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.