Sun Life Financial (NYSE:SLF) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Sun Life Financial (NYSE:SLF) (TSE:SLF) announced its quarterly earnings data on Wednesday. The financial services provider reported $1.41 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.06, Zacks reports. Sun Life Financial had a return on equity of 16.93% and a net margin of 7.53%.

Sun Life Financial Stock Down 0.9%

Sun Life Financial stock traded down $0.57 during trading on Wednesday, reaching $64.93. The stock had a trading volume of 470,483 shares, compared to its average volume of 497,951. Sun Life Financial has a 52-week low of $52.44 and a 52-week high of $66.81. The stock has a market cap of $35.96 billion, a PE ratio of 17.27 and a beta of 0.88. The business has a 50 day moving average price of $62.25 and a 200 day moving average price of $60.57.

Institutional Investors Weigh In On Sun Life Financial

Institutional investors and hedge funds have recently bought and sold shares of the stock. Triumph Capital Management purchased a new position in shares of Sun Life Financial during the third quarter worth approximately $64,000. EverSource Wealth Advisors LLC increased its stake in shares of Sun Life Financial by 66.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 692 shares in the last quarter. Danske Bank A S purchased a new stake in Sun Life Financial in the 3rd quarter worth approximately $178,000. Sivia Capital Partners LLC purchased a new position in shares of Sun Life Financial in the 2nd quarter worth $204,000. Finally, Focus Partners Advisor Solutions LLC purchased a new position in Sun Life Financial in the fourth quarter valued at about $220,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on SLF. Canadian Imperial Bank of Commerce restated a “neutral” rating on shares of Sun Life Financial in a report on Thursday, January 8th. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research note on Thursday, January 8th. National Bank Financial reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, November 6th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, January 21st. Finally, Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Sun Life Financial has an average rating of “Hold” and a consensus target price of $86.50.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.