Cigna Investments Inc. New Decreases Stock Position in Sun Life Financial Inc. $SLF

Cigna Investments Inc. New lessened its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 2.5% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 10,335 shares of the financial services provider’s stock after selling 268 shares during the quarter. Cigna Investments Inc. New’s holdings in Sun Life Financial were worth $686,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new stake in shares of Sun Life Financial in the fourth quarter valued at approximately $244,000. Tidal Investments LLC increased its holdings in shares of Sun Life Financial by 4.5% in the fourth quarter. Tidal Investments LLC now owns 5,147 shares of the financial services provider’s stock valued at $305,000 after purchasing an additional 222 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Sun Life Financial by 32.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 8,575 shares of the financial services provider’s stock valued at $509,000 after purchasing an additional 2,099 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Sun Life Financial by 2,071.4% in the fourth quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider’s stock valued at $80,160,000 after purchasing an additional 1,288,545 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Sun Life Financial by 5,413.0% in the first quarter. Versant Capital Management Inc now owns 5,072 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 4,980 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Down 1.1%

SLF stock opened at $59.03 on Thursday. Sun Life Financial Inc. has a 52-week low of $52.44 and a 52-week high of $66.81. The business has a fifty day moving average of $59.54 and a two-hundred day moving average of $60.20. The stock has a market cap of $33.09 billion, a price-to-earnings ratio of 14.61, a price-to-earnings-growth ratio of 1.60 and a beta of 0.89.

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, meeting analysts’ consensus estimates of $1.29. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The business had revenue of $6.65 billion during the quarter, compared to analysts’ expectations of $7.34 billion. During the same period in the previous year, the firm posted $1.11 earnings per share. As a group, sell-side analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on SLF. National Bank Financial cut Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. Argus raised Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. Barclays cut Sun Life Financial from an “equal weight” rating to an “underweight” rating in a report on Monday, July 7th. Finally, Scotiabank raised Sun Life Financial to a “hold” rating in a research note on Thursday, July 31st. 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Sun Life Financial Company 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.