Shell Asset Management Co. Boosts Position in Sun Life Financial Inc. $SLF

Shell Asset Management Co. raised its stake in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 114.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 36,672 shares of the financial services provider's stock after buying an additional 19,600 shares during the quarter. Shell Asset Management Co.'s holdings in Sun Life Financial were worth $2,435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp grew its holdings in shares of Sun Life Financial by 5.9% during the first quarter. Northern Trust Corp now owns 522,752 shares of the financial services provider's stock worth $29,933,000 after purchasing an additional 29,222 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Sun Life Financial by 19.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,220 shares of the financial services provider's stock worth $585,000 after purchasing an additional 1,645 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Sun Life Financial by 4.8% during the first quarter. Bank of Nova Scotia now owns 5,780,001 shares of the financial services provider's stock worth $330,848,000 after purchasing an additional 266,732 shares in the last quarter. Cerity Partners LLC grew its holdings in shares of Sun Life Financial by 4.3% during the first quarter. Cerity Partners LLC now owns 24,889 shares of the financial services provider's stock worth $1,425,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Gulf International Bank UK Ltd grew its holdings in shares of Sun Life Financial by 2,729.4% during the first quarter. Gulf International Bank UK Ltd now owns 33,557 shares of the financial services provider's stock worth $1,921,000 after purchasing an additional 32,371 shares in 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 $61.93 on Thursday. Sun Life Financial Inc. has a 1-year low of $52.44 and a 1-year high of $66.81. The business has a 50 day moving average of $59.16 and a 200 day moving average of $60.52. The company has a market capitalization of $38.06 billion, a price-to-earnings ratio of 15.33, a PEG ratio of 1.63 and a beta of 0.90.

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

Analyst Ratings Changes

Several research analysts have recently commented on the company. TD Securities raised Sun Life Financial from a "hold" rating to a "buy" rating in a report on Tuesday. National Bank Financial lowered Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Weiss Ratings restated a "buy (b)" rating on shares of Sun Life Financial in a research report on Wednesday. Morgan Stanley set a $89.00 target price on Sun Life Financial in a research report on Tuesday. Finally, Scotiabank upgraded Sun Life Financial to a "hold" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sun Life Financial presently has an average rating of "Moderate Buy" and an average target price of $88.50.

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.

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