TCW Group Inc. acquired a new position in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) in the 1st quarter, Holdings Channel reports. The fund acquired 15,200 shares of the financial services provider’s stock, valued at approximately $584,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SLF. Bremer Trust National Association purchased a new stake in Sun Life Financial in the 4th quarter worth approximately $28,000. Enlightenment Research LLC bought a new position in Sun Life Financial during the 4th quarter valued at approximately $33,000. Arbor Wealth Management LLC bought a new stake in shares of Sun Life Financial in the 4th quarter worth $33,000. Bremer Bank National Association bought a new stake in shares of Sun Life Financial in the 1st quarter worth $34,000. Finally, Lindbrook Capital LLC purchased a new position in Sun Life Financial during the fourth quarter valued at $36,000. Institutional investors own 41.00% of the company’s stock.
Several equities research analysts have recently issued reports on SLF shares. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 target price on shares of Sun Life Financial in a report on Friday, April 26th. Barclays lowered Sun Life Financial from an “overweight” rating to an “equal weight” rating in a research report on Wednesday. Scotiabank reiterated a “hold” rating and issued a $54.00 price target on shares of Sun Life Financial in a report on Wednesday, February 20th. Zacks Investment Research upgraded Sun Life Financial from a “sell” rating to a “hold” rating and set a $42.00 price target for the company in a report on Friday, June 7th. Finally, ValuEngine upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $52.20.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, May 8th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.29. The business had revenue of $11.39 billion for the quarter, compared to the consensus estimate of $7.35 billion. Sun Life Financial had a return on equity of 13.58% and a net margin of 7.96%. The business’s quarterly revenue was up 90.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.26 earnings per share. As a group, equities analysts forecast that Sun Life Financial Inc will post 3.72 EPS for the current year.
About Sun Life Financial
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
Further Reading: Futures Contract
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