BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Invests $41.90 Million in Sun Life Financial Inc (SLF)

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BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 816,147 shares of the financial services provider’s stock, valued at approximately $41,901,000.

Several other large investors also recently modified their holdings of the stock. Unison Advisors LLC raised its holdings in shares of Sun Life Financial by 0.9% during the first quarter. Unison Advisors LLC now owns 34,399 shares of the financial services provider’s stock worth $1,321,000 after acquiring an additional 312 shares during the period. Comerica Bank raised its holdings in shares of Sun Life Financial by 0.9% during the fourth quarter. Comerica Bank now owns 44,376 shares of the financial services provider’s stock worth $1,598,000 after acquiring an additional 396 shares during the period. Heathbridge Capital Management Ltd. raised its holdings in shares of Sun Life Financial by 6.7% during the fourth quarter. Heathbridge Capital Management Ltd. now owns 6,400 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 400 shares during the period. Advisors Asset Management Inc. raised its holdings in shares of Sun Life Financial by 16.6% during the fourth quarter. Advisors Asset Management Inc. now owns 3,188 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 455 shares during the period. Finally, Cornerstone Advisors Inc. raised its holdings in shares of Sun Life Financial by 40.6% during the first quarter. Cornerstone Advisors Inc. now owns 1,647 shares of the financial services provider’s stock worth $63,000 after acquiring an additional 476 shares during the period. Institutional investors and hedge funds own 42.07% of the company’s stock.

Shares of SLF stock opened at $39.56 on Tuesday. The stock has a market cap of $23.60 billion, a P/E ratio of 10.55 and a beta of 0.88. Sun Life Financial Inc has a 52 week low of $31.49 and a 52 week high of $43.99.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, May 8th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $0.91 by $0.29. The business had revenue of $11.39 billion during the quarter, compared to the consensus estimate 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 EPS. On average, analysts forecast that Sun Life Financial Inc will post 3.74 earnings per share for the current fiscal year.

Several equities research analysts have issued reports on SLF shares. BMO Capital Markets reiterated a “buy” rating and issued a $58.00 price target on shares of Sun Life Financial in a research note on Friday, April 26th. Scotiabank lowered shares of Sun Life Financial from a “sector outperform” rating to a “sector perform” rating in a research note on Wednesday, February 6th. CIBC lowered shares of Sun Life Financial from a “neutral” rating to an “underperform” rating and lifted their price target for the company from $53.00 to $54.00 in a research note on Thursday, March 14th. Canaccord Genuity reiterated a “hold” rating on shares of Sun Life Financial in a research note on Tuesday, February 5th. 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 investment analysts have rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $52.60.

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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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Institutional Ownership by Quarter for Sun Life Financial (NYSE:SLF)

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