Clark Capital Management Group Inc. lessened its holdings in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) by 32.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 432,148 shares of the financial services provider’s stock after selling 206,555 shares during the quarter. Clark Capital Management Group Inc.’s holdings in Sun Life Financial were worth $16,599,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Bremer Trust National Association acquired a new position in Sun Life Financial during the fourth quarter worth approximately $28,000. Enlightenment Research LLC acquired a new position in shares of Sun Life Financial in the fourth quarter valued at approximately $33,000. Arbor Wealth Management LLC acquired a new position in shares of Sun Life Financial in the fourth quarter valued at approximately $33,000. Lindbrook Capital LLC acquired a new position in shares of Sun Life Financial in the fourth quarter valued at approximately $36,000. Finally, Buffington Mohr McNeal acquired a new position in shares of Sun Life Financial in the first quarter valued at approximately $50,000. 42.07% of the stock is currently owned by hedge funds and other institutional investors.
SLF has been the topic of several research reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $58.00 target price on shares of Sun Life Financial in a research report on Friday, April 26th. Scotiabank downgraded Sun Life Financial from a “sector outperform” rating to a “sector perform” rating in a research report on Wednesday, February 6th. CIBC downgraded Sun Life Financial from a “neutral” rating to an “underperform” rating and upped their target price for the company from $53.00 to $54.00 in a research report on Thursday, March 14th. Canaccord Genuity reaffirmed a “hold” rating on shares of Sun Life Financial in a research report on Tuesday, February 5th. Finally, ValuEngine raised Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $52.60.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, May 8th. The financial services provider reported $1.20 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.29. Sun Life Financial had a return on equity of 13.58% and a net margin of 7.96%. The firm had revenue of $11.39 billion during the quarter, compared to analysts’ expectations of $7.35 billion. During the same period in the prior year, the company earned $1.26 earnings per share. The company’s quarterly revenue was up 90.1% on a year-over-year basis. Analysts forecast that Sun Life Financial Inc will post 3.74 EPS for the current fiscal year.
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Sun Life Financial Company 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.
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