Goldman Sachs Group Inc. Increases Stake in Sun Life Financial Inc. $SLF

Key Points

• Goldman Sachs Group Inc. increased its stake in Sun Life Financial Inc. by 282.5%, acquiring an additional 2,050,891 shares to total 2,776,920 shares valued at approximately $159 million.
• Institutional investors own 52.26% of Sun Life Financial, with several firms, including Investment Management Corp VA ADV and Hexagon Capital Partners LLC, significantly increasing their positions in the first quarter.
• Wall Street analysts have varied opinions on Sun Life Financial, with one analyst rating it as a Strong Buy, while others issued ratings ranging from Hold to Underweight, resulting in an average rating of Moderate Buy.

Goldman Sachs Group Inc. boosted its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 282.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,776,920 shares of the financial services provider's stock after purchasing an additional 2,050,891 shares during the quarter. Goldman Sachs Group Inc. owned about 0.49% of Sun Life Financial worth $159,006,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of SLF. Investment Management Corp VA ADV increased its stake in shares of Sun Life Financial by 164.5% in 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 last quarter. Hexagon Capital Partners LLC increased its stake in shares of Sun Life Financial by 53.2% in the 1st quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock worth $38,000 after acquiring an additional 231 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Sun Life Financial in the 1st quarter worth $55,000. CX Institutional acquired a new stake in shares of Sun Life Financial in the 1st quarter worth $109,000. Finally, Harbour Investments Inc. increased its stake in shares of Sun Life Financial by 12.1% in the 1st quarter. Harbour Investments Inc. now owns 3,310 shares of the financial services provider's stock worth $190,000 after acquiring an additional 357 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Barclays downgraded Sun Life Financial from an "equal weight" rating to an "underweight" rating in a research note on Monday, July 7th. Scotiabank raised Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. National Bank Financial cut Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Finally, Argus upgraded Sun Life Financial to a "strong-buy" rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Sun Life Financial currently has a consensus rating of "Moderate Buy" and an average target price of $88.00.

Sun Life Financial Stock Performance

Shares of NYSE SLF traded up $0.46 during mid-day trading on Monday, reaching $59.69. 386,295 shares of the company's stock were exchanged, compared to its average volume of 688,240. The company's 50-day moving average is $59.99 and its 200-day moving average is $60.05. Sun Life Financial Inc. has a 52-week low of $52.44 and a 52-week high of $66.81. The firm has a market capitalization of $33.55 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 1.59 and a beta of 0.89.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, meeting analysts' consensus estimates of $1.29. Sun Life Financial had a return on equity of 17.21% and a net margin of 7.59%.The company had revenue of $6.65 billion during the quarter, compared to analysts' expectations of $7.34 billion. During the same period last year, the business posted $1.11 EPS. As a group, equities analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

About Sun Life Financial

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.