Acadian Asset Management LLC Has $1.07 Million Position in Sun Life Financial Inc. (SLF)

Acadian Asset Management LLC cut its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 40.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,100 shares of the financial services provider’s stock after selling 20,600 shares during the period. Acadian Asset Management LLC’s holdings in Sun Life Financial were worth $1,074,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. increased its position in shares of Sun Life Financial by 0.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,587 shares of the financial services provider’s stock valued at $131,000 after buying an additional 17 shares during the period. Rational Advisors LLC increased its position in shares of Sun Life Financial by 14.3% in the first quarter. Rational Advisors LLC now owns 4,538 shares of the financial services provider’s stock valued at $166,000 after buying an additional 567 shares during the period. Advisory Services Network LLC bought a new position in shares of Sun Life Financial during the first quarter valued at $194,000. Stifel Financial Corp increased its position in shares of Sun Life Financial by 1.8% in the first quarter. Stifel Financial Corp now owns 5,811 shares of the financial services provider’s stock valued at $209,000 after buying an additional 102 shares during the period. Finally, Wetherby Asset Management Inc. increased its position in shares of Sun Life Financial by 7.1% in the first quarter. Wetherby Asset Management Inc. now owns 7,456 shares of the financial services provider’s stock valued at $273,000 after buying an additional 496 shares during the period. Institutional investors own 43.01% of the company’s stock.

Sun Life Financial Inc. (SLF) traded down 1.68% during mid-day trading on Thursday, reaching $37.55. The company’s stock had a trading volume of 571,523 shares. Sun Life Financial Inc. has a 52 week low of $30.38 and a 52 week high of $40.57. The firm has a market capitalization of $23.04 billion, a P/E ratio of 11.64 and a beta of 0.88. The firm’s 50 day moving average price is $36.80 and its 200 day moving average price is $36.17.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, August 9th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Sun Life Financial had a return on equity of 13.02% and a net margin of 11.31%. The firm had revenue of $8.12 billion for the quarter, compared to analysts’ expectations of $7.36 billion. During the same period last year, the firm earned $0.90 EPS. The firm’s revenue was down 14.8% compared to the same quarter last year. On average, analysts anticipate that Sun Life Financial Inc. will post $3.12 EPS for the current fiscal year.

Sun Life Financial announced that its board has approved a stock repurchase plan on Wednesday, August 9th that allows the company to repurchase 11,500,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

A number of research firms recently weighed in on SLF. Zacks Investment Research upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Thursday, June 1st. National Bank Financial restated an “outperform overweight” rating on shares of Sun Life Financial in a research note on Tuesday, May 9th. Credit Suisse Group downgraded Sun Life Financial from an “outperform” rating to a “neutral” rating in a research note on Wednesday, May 10th. BidaskClub upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Friday, June 30th. Finally, ValuEngine downgraded Sun Life Financial from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Sun Life Financial has an average rating of “Hold” and an average target price of $45.17.

Sun Life Financial Company Profile

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

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