Canada Pension Plan Investment Board Has $241.64 Million Stake in Sun Life Financial Inc. $SLF

Key Points

• The Canada Pension Plan Investment Board increased its stake in Sun Life Financial by 47.2% in Q1, holding approximately 4.22 million shares worth $241.64 million.
• Sun Life Financial reported $1.29 earnings per share in its latest quarterly earnings, meeting analyst expectations, despite revenues of $6.65 billion falling short of forecasts.
• Wall Street analysts have varied opinions on Sun Life Financial, with a current consensus rating of "Hold" and an average price target of $88.00.

Canada Pension Plan Investment Board increased its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 47.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,221,447 shares of the financial services provider's stock after acquiring an additional 1,353,508 shares during the quarter. Canada Pension Plan Investment Board owned about 0.74% of Sun Life Financial worth $241,643,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Sun Life Financial by 19.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 10,220 shares of the financial services provider's stock worth $585,000 after acquiring an additional 1,645 shares during the last quarter. Bank of Nova Scotia boosted its stake in Sun Life Financial by 4.8% during the 1st quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider's stock worth $330,848,000 after acquiring an additional 266,732 shares during the last quarter. Cerity Partners LLC boosted its stake in Sun Life Financial by 4.3% during the 1st quarter. Cerity Partners LLC now owns 24,889 shares of the financial services provider's stock worth $1,425,000 after acquiring an additional 1,022 shares during the last quarter. Gulf International Bank UK Ltd boosted its stake in Sun Life Financial by 2,729.4% during the 1st quarter. Gulf International Bank UK Ltd now owns 33,557 shares of the financial services provider's stock worth $1,921,000 after acquiring an additional 32,371 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in Sun Life Financial by 5,676.2% during the 1st quarter. GAMMA Investing LLC now owns 32,982 shares of the financial services provider's stock worth $1,889,000 after acquiring an additional 32,411 shares during the last quarter. Institutional investors own 52.26% of the company's stock.

Analyst Ratings Changes

SLF has been the topic of several research analyst reports. Scotiabank upgraded shares of Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Barclays downgraded shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. Royal Bank Of Canada raised their target price on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a report on Monday, May 12th. Finally, National Bank Financial downgraded shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $88.00.

Sun Life Financial Trading Up 0.4%

Shares of NYSE SLF traded up $0.22 during midday trading on Monday, reaching $58.45. The company's stock had a trading volume of 493,562 shares, compared to its average volume of 868,534. Sun Life Financial Inc. has a fifty-two week low of $52.44 and a fifty-two week high of $66.81. The stock has a market capitalization of $32.91 billion, a price-to-earnings ratio of 14.47, a PEG ratio of 1.56 and a beta of 0.89. The stock has a 50 day simple moving average of $61.37 and a 200-day simple moving average of $59.82.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.29. The company had revenue of $6.65 billion for the quarter, compared to the consensus estimate 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 period last year, the company earned $1.11 earnings per share. As a group, equities analysts anticipate that Sun Life Financial Inc. will post 5.19 EPS for the current year.

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.