Checchi Capital Advisers LLC Decreases Position in Sun Life Financial Inc. $SLF

Checchi Capital Advisers LLC lessened its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 17.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,403 shares of the financial services provider’s stock after selling 744 shares during the quarter. Checchi Capital Advisers LLC’s holdings in Sun Life Financial were worth $226,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SLF. Brighton Jones LLC purchased a new position in Sun Life Financial in the 4th quarter worth $244,000. Wealth Enhancement Advisory Services LLC raised its position in Sun Life Financial by 32.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 8,575 shares of the financial services provider’s stock worth $509,000 after purchasing an additional 2,099 shares during the period. GAMMA Investing LLC raised its position in Sun Life Financial by 5,676.2% in the 1st quarter. GAMMA Investing LLC now owns 32,982 shares of the financial services provider’s stock worth $1,889,000 after purchasing an additional 32,411 shares during the period. Merit Financial Group LLC purchased a new position in Sun Life Financial in the 1st quarter worth $200,000. Finally, Cardinal Capital Management Inc. raised its position in Sun Life Financial by 0.5% in the 1st quarter. Cardinal Capital Management Inc. now owns 1,129,139 shares of the financial services provider’s stock worth $64,651,000 after purchasing an additional 5,785 shares during the period. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Trading Down 0.5%

Shares of SLF opened at $60.81 on Wednesday. The firm’s 50-day moving average price is $59.14 and its 200-day moving average price is $60.51. The firm has a market capitalization of $37.37 billion, a price-to-earnings ratio of 15.05, a PEG ratio of 1.64 and a beta of 0.90. Sun Life Financial Inc. has a 1-year low of $52.44 and a 1-year high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.29. The firm had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.34 billion. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. During the same quarter in the previous year, the firm posted $1.11 EPS. On average, research analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on SLF. TD Securities upgraded shares of Sun Life Financial to a “buy” rating in a research report on Tuesday. Scotiabank upgraded shares of Sun Life Financial to a “hold” rating in a research report on Thursday, July 31st. National Bank Financial cut shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Morgan Stanley set a $89.00 price objective on shares of Sun Life Financial in a research report on Tuesday. Finally, Barclays cut shares of Sun Life Financial from an “equal weight” rating to an “underweight” rating in a research report on Monday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sun Life Financial has a consensus rating of “Moderate Buy” and a consensus target price of $88.50.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.