Bessemer Group Inc. Boosts Position in Sun Life Financial Inc. $SLF

Bessemer Group Inc. lifted its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 18.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 83,450 shares of the financial services provider’s stock after acquiring an additional 13,172 shares during the period. Bessemer Group Inc.’s holdings in Sun Life Financial were worth $5,542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of SLF. Private Trust Co. NA raised its holdings in shares of Sun Life Financial by 130.6% during the 2nd quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock worth $29,000 after acquiring an additional 243 shares during the period. Investment Management Corp VA ADV raised its holdings in shares of Sun Life Financial by 164.5% during the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 385 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Sun Life Financial by 53.2% during the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 231 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Sun Life Financial during the 1st quarter worth about $55,000. Finally, Clean Yield Group increased its position in shares of Sun Life Financial by 36.8% during the 2nd quarter. Clean Yield Group now owns 925 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 249 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

NYSE SLF opened at $61.71 on Thursday. The company has a market cap of $34.46 billion, a P/E ratio of 15.27, a P/E/G ratio of 1.69 and a beta of 0.90. The stock has a 50-day moving average of $59.89 and a two-hundred day moving average of $61.15. 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 released its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, meeting the consensus estimate of $1.29. The company had revenue of $6.65 billion during the quarter, compared to the consensus estimate of $7.34 billion. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.During the same period in the previous year, the company posted $1.11 EPS. On average, analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SLF has been the subject of a number of recent analyst reports. National Bank Financial downgraded 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 Sun Life Financial in a research report on Tuesday, October 7th. Scotiabank raised Sun Life Financial to a “hold” rating in a research report on Thursday, July 31st. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. Finally, UBS Group initiated coverage on Sun Life Financial in a research report on Thursday, October 16th. They set a “neutral” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $88.50.

Sun Life Financial 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.