On May 12, 2023, it was reported that Prime Capital Investment Advisors LLC had significantly increased its position in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 45.3% in the fourth quarter. According to the company’s most recent Form 13F filing with the Securities and Exchange Commission, it owned 8,508 shares of the financial services provider’s stock, which were worth $395,000 at the end of the reporting period after acquiring an additional 2,654 shares during that time.
This increase in investment is a strong indication of Prime Capital Investment Advisors LLC’s confidence in Sun Life Financial’s future performance. In fact, this sentiment was further supported by Sun Life Financial’s quarterly earnings report released on February 8th, wherein they reported earnings per share (EPS) of $1.25 for the quarter – surpassing expectations by $0.09.
Furthermore, Sun Life Financial posted a return on equity of 13.28% and a net margin of 13.70%. Notably, the firm had revenue of $9.06 billion for the quarter – indicating a robust financial performance during a time when many businesses were still feeling the adverse effects of the pandemic.
As such, research analysts anticipate that Sun Life Financial Inc will post an EPS of approximately $4.74 for this current fiscal year based on its strong Q4 report – cementing its position as a solid long-term investment opportunity for those looking to invest in financial services.
Anyone interested in exploring further information regarding SLF’s performance can visit HoldingsChannel.com to check out other hedge funds’ positions and insider trades related to Sun Life Financial Inc. It is apparent that Prime Capital Investment Advisors LLC believes there are significant growth prospects within this company hence their substantial acquisition of SLF stocks during Q4 – potentially leading to promising returns-year-end incentives for their investors during the approaching reporting quarter. As such, Sun Life Financial proves to be a promising opportunity worth considering.
Institutional Investors and Hedge Funds Increase Stake in Sun Life Financial Inc. (SLF)
Sun Life Financial Inc. (SLF) recently saw an increase in its stake by various institutional investors and hedge funds during the first quarter of 2023. According to reports, Raymond James & Associates grew its stake in the financial services provider’s stock by 2%, while Raymond James Financial Services Advisors Inc. increased its stake by 1.1%. American Century Companies Inc. also saw a growth of 3.5% in its stake, while Natixis Advisors L.P. boosted its position by 9.4%. Acadian Asset Management LLC further purchased a new stake worth $67,000.
Overall, hedge funds and other institutional investors own approximately 44.94% of the company’s stock. Shares of SLF opened at $48.37 on Thursday, with the business’s fifty-day moving average price being $47.24 and its 200-day moving average price being $47.17.
Sun Life Financial’s market capitalization is recorded at $28.38 billion, with a PE ratio of 12.09, a price-to-earnings-growth ratio of 1.14 and a beta of 1.00. The company has seen significant growth in recent months, with research firms like Scotiabank raising their price target on shares from C$71 to C$75.
Sun Life Financial offers insurance and asset management solutions to individual and corporate clients through segments like Canada, United States, Asset Management, Asia, and Corporate segments that offer individual insurance and group benefits and retirement services respectively.
Those interested in learning about other institutions holding SLF can visit HoldingsChannel.com for the latest filings and insider trades related to Sun Life Financial Inc.’s stocks (NYSE:SLF) (TSE:SLF). While some reputable sources have given Sun Life Financial high ratings, some have downgraded it as well on basis of valuation calls.
