Sun Life Financial Inc. $SLF Position Trimmed by Addenda Capital Inc.

Addenda Capital Inc. lowered its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 124,805 shares of the financial services provider’s stock after selling 844 shares during the period. Addenda Capital Inc.’s holdings in Sun Life Financial were worth $8,293,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Investment Management Corp VA ADV boosted its holdings in shares of Sun Life Financial by 164.5% in the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock worth $35,000 after buying an additional 385 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Sun Life Financial by 53.2% in the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 231 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Sun Life Financial in the first quarter worth $55,000. Farther Finance Advisors LLC increased its position in Sun Life Financial by 295.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 1,116 shares of the financial services provider’s stock worth $74,000 after purchasing an additional 834 shares during the last quarter. Finally, Ryan Investment Management Inc. acquired a new stake in shares of Sun Life Financial during the 2nd quarter valued at about $90,000. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on SLF. Barclays cut shares of Sun Life Financial from an “equal weight” rating to an “underweight” rating in a research note on Monday, July 7th. National Bank Financial lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Argus upgraded Sun Life Financial to a “strong-buy” rating in a research note on Thursday, September 4th. Finally, Scotiabank upgraded shares of 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 assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $88.00.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $58.89 on Friday. The stock’s fifty day moving average is $59.41 and its 200-day moving average is $60.30. Sun Life Financial Inc. has a 52 week low of $52.44 and a 52 week high of $66.81. The stock has a market capitalization of $33.01 billion, a PE ratio of 14.58, a PEG ratio of 1.58 and a beta of 0.89.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, meeting the consensus estimate of $1.29. The business had revenue of $6.65 billion for the quarter, compared to analysts’ expectations 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 previous year, the firm posted $1.11 EPS. As a group, analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

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.