Financial & Tax Architects LLC Makes New $736,000 Investment in Sun Life Financial Inc. $SLF

Financial & Tax Architects LLC purchased a new stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) during the third quarter, Holdings Channel reports. The fund purchased 12,254 shares of the financial services provider’s stock, valued at approximately $736,000.

Several other hedge funds have also recently bought and sold shares of SLF. Norges Bank bought a new stake in shares of Sun Life Financial during the 2nd quarter worth about $362,886,000. Picton Mahoney Asset Management bought a new position in shares of Sun Life Financial in the second quarter worth about $87,660,000. Intact Investment Management Inc. lifted its position in Sun Life Financial by 226.8% during the 3rd quarter. Intact Investment Management Inc. now owns 1,270,947 shares of the financial services provider’s stock valued at $76,327,000 after purchasing an additional 882,070 shares during the period. Vanguard Group Inc. boosted its stake in Sun Life Financial by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 25,422,211 shares of the financial services provider’s stock worth $1,691,568,000 after acquiring an additional 827,119 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Sun Life Financial by 1,441.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 854,747 shares of the financial services provider’s stock valued at $56,760,000 after purchasing an additional 799,300 shares in the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Price Performance

Shares of SLF opened at $64.82 on Friday. The firm has a 50-day moving average of $61.83 and a 200-day moving average of $60.54. The company has a market cap of $35.89 billion, a PE ratio of 17.24 and a beta of 0.88. Sun Life Financial Inc. has a one year low of $52.44 and a one year high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.30 by $0.05. Sun Life Financial had a return on equity of 16.93% and a net margin of 7.53%.The company had revenue of $944.53 million during the quarter, compared to the consensus estimate of $944.53 million. During the same period in the previous year, the company posted $2.33 EPS. Analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SLF shares. Barclays restated an “underweight” rating on shares of Sun Life Financial in a report on Thursday, January 8th. National Bankshares reissued a “sector perform” rating on shares of Sun Life Financial in a research note on Thursday, November 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, January 21st. Evercore ISI reissued an “outperform” rating on shares of Sun Life Financial in a research report on Thursday, October 9th. Finally, Scotiabank reaffirmed a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.50.

Sun Life Financial Profile

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.