Northern Trust Corp Increases Stake in Sun Life Financial Inc. $SLF

Key Points

• Northern Trust Corp increased its stake in Sun Life Financial Inc. by 5.9%, acquiring an additional 29,222 shares, bringing its total ownership to 522,752 shares valued at approximately $29.93 million.
• Several hedge funds have significantly boosted their positions in Sun Life Financial, with Wellington Management Group raising its stake by over 2,000% in the last quarter.
• Analysts have mixed views on Sun Life Financial, with a consensus rating of "Hold" and a target price adjustment from $82.00 to $88.00 from Royal Bank of Canada.

Northern Trust Corp boosted its position in Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 5.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 522,752 shares of the financial services provider's stock after acquiring an additional 29,222 shares during the period. Northern Trust Corp owned 0.09% of Sun Life Financial worth $29,933,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of SLF. Investment Management Corp VA ADV increased its position in shares of Sun Life Financial by 164.5% during the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock valued at $35,000 after buying 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 first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock valued at $38,000 after buying an additional 231 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in shares of Sun Life Financial during the first quarter valued at about $55,000. CX Institutional bought a new stake in shares of Sun Life Financial during the first quarter valued at about $109,000. Finally, Harbour Investments Inc. increased its position in shares of Sun Life Financial by 12.1% during the first quarter. Harbour Investments Inc. now owns 3,310 shares of the financial services provider's stock valued at $190,000 after buying an additional 357 shares during the period. 52.26% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Sun Life Financial Price Performance

Shares of SLF stock traded down $0.07 during trading hours on Thursday, reaching $57.96. 162,778 shares of the company traded hands, compared to its average volume of 697,601. Sun Life Financial Inc. has a 12-month low of $52.44 and a 12-month high of $66.81. The company has a market cap of $32.64 billion, a P/E ratio of 14.35, a P/E/G ratio of 1.56 and a beta of 0.89. The firm has a 50-day moving average price of $60.96 and a 200 day moving average price of $59.82.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 return on equity of 17.21% and a net margin of 7.59%.During the same quarter last year, the company earned $1.11 EPS. Sell-side analysts predict that Sun Life Financial Inc. will post 5.19 EPS for the current 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.