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

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

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

Several institutional investors have recently modified their holdings of SLF. Sivia Capital Partners LLC purchased a new position in Sun Life Financial during the 2nd quarter worth $204,000. Brighton Jones LLC acquired a new stake in shares of Sun Life Financial during the fourth quarter worth about $244,000. AQR Capital Management LLC grew its holdings in shares of Sun Life Financial by 113.8% during the first quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock worth $454,000 after buying an additional 4,270 shares during the last quarter. Advisory Services Network LLC acquired a new position in Sun Life Financial in the 3rd quarter valued at about $460,000. Finally, PDT Partners LLC purchased a new stake in Sun Life Financial during the 3rd quarter valued at approximately $2,642,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently issued reports on SLF. UBS Group initiated coverage on Sun Life Financial in a research note on Thursday, October 16th. They set a “neutral” rating on the stock. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, February 5th. Royal Bank Of Canada reissued a “sector perform” rating and set a $84.00 price target on shares of Sun Life Financial in a research report on Monday, November 10th. Barclays restated an “underweight” rating on shares of Sun Life Financial in a report on Thursday, January 8th. Finally, National Bank Financial reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sun Life Financial currently has an average rating of “Hold” and a consensus price target of $86.50.

About Sun Life Financial

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.