Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 33.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 251,898 shares of the financial services provider’s stock after acquiring an additional 63,118 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Sun Life Financial were worth $9,680,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of SLF. Quadrant Capital Group LLC increased its position in shares of Sun Life Financial by 51.7% in the first quarter. Quadrant Capital Group LLC now owns 10,816 shares of the financial services provider’s stock worth $409,000 after acquiring an additional 3,688 shares in the last quarter. Beutel Goodman & Co Ltd. increased its position in shares of Sun Life Financial by 10.7% in the first quarter. Beutel Goodman & Co Ltd. now owns 14,207,568 shares of the financial services provider’s stock worth $545,823,000 after acquiring an additional 1,374,903 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Sun Life Financial in the first quarter worth $532,000. Virginia Retirement Systems ET AL increased its position in shares of Sun Life Financial by 30.6% in the first quarter. Virginia Retirement Systems ET AL now owns 333,000 shares of the financial services provider’s stock worth $12,797,000 after acquiring an additional 78,000 shares in the last quarter. Finally, Unison Advisors LLC grew its holdings in Sun Life Financial by 0.9% during the 1st quarter. Unison Advisors LLC now owns 34,399 shares of the financial services provider’s stock valued at $1,321,000 after purchasing an additional 312 shares in the last quarter. 41.21% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently weighed in on SLF. BMO Capital Markets reaffirmed a “buy” rating and set a $58.00 price target on shares of Sun Life Financial in a report on Friday, April 26th. Canaccord Genuity reaffirmed a “hold” rating on shares of Sun Life Financial in a research note on Tuesday, February 5th. CIBC cut shares of Sun Life Financial from a “neutral” rating to an “underperform” rating and raised their price target for the stock from $53.00 to $54.00 in a report on Thursday, March 14th. Scotiabank reiterated a “hold” rating and issued a $54.00 target price on shares of Sun Life Financial in a research note on Wednesday, February 20th. Finally, ValuEngine upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, March 20th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $52.60.
SLF stock traded up $0.62 on Friday, reaching $40.09. 3,419,900 shares of the company were exchanged, compared to its average volume of 525,337. Sun Life Financial Inc has a 12 month low of $31.49 and a 12 month high of $42.75. The firm has a market capitalization of $23.99 billion, a P/E ratio of 10.69 and a beta of 0.88.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.29. The business had revenue of $11.39 billion for the quarter, compared to analyst estimates of $7.35 billion. Sun Life Financial had a net margin of 7.96% and a return on equity of 13.58%. Sun Life Financial’s revenue was up 90.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.26 earnings per share. As a group, equities analysts anticipate that Sun Life Financial Inc will post 3.74 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: “Zurcher Kantonalbank Zurich Cantonalbank Raises Stake in Sun Life Financial Inc (NYSE:SLF)” was reported by Sundance Herald and is the property of of Sundance Herald. If you are reading this story on another publication, it was stolen and republished in violation of international copyright legislation. The correct version of this story can be viewed at https://sundanceherald.com/2019/05/24/zurcher-kantonalbank-zurich-cantonalbank-has-9-68-million-position-in-sun-life-financial-inc-slf.html.
Sun Life Financial Profile
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.
Read More: Understanding Options Trading
Receive News & Ratings for Sun Life Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Life Financial and related companies with MarketBeat.com's FREE daily email newsletter.