Northern Trust Corp Buys 29,222 Shares of Sun Life Financial Inc. $SLF

Northern Trust Corp boosted its stake in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 5.9% during the 1st quarter, according to the company in its most recent disclosure 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 filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SLF. Wellington Management Group LLP raised its position in Sun Life Financial by 2,071.4% in the fourth quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider’s stock worth $80,160,000 after acquiring an additional 1,288,545 shares during the period. Value Partners Investments Inc. raised its position in Sun Life Financial by 1,002.9% in the first quarter. Value Partners Investments Inc. now owns 1,120,888 shares of the financial services provider’s stock worth $64,216,000 after acquiring an additional 1,019,254 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Sun Life Financial in the first quarter worth about $50,968,000. Nuveen LLC bought a new stake in Sun Life Financial in the first quarter worth about $23,135,000. Finally, TD Asset Management Inc raised its position in Sun Life Financial by 2.4% in the first quarter. TD Asset Management Inc now owns 16,100,340 shares of the financial services provider’s stock worth $921,330,000 after acquiring an additional 374,682 shares during the period. Institutional investors own 52.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on SLF shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Sun Life Financial in a research report on Monday, May 12th. Royal Bank Of Canada lifted their target price on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an “outperform” rating in a research note on Monday, May 12th. Scotiabank upgraded shares of Sun Life Financial to a “hold” rating in a research note on Thursday, July 31st. Barclays downgraded shares of Sun Life Financial from an “equal weight” rating to an “underweight” rating in a research note on Monday, July 7th. Finally, National Bank Financial downgraded shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research note 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $88.00.

Sun Life Financial Stock Up 0.4%

SLF opened at $58.45 on Friday. The firm has a 50-day moving average price of $61.37 and a 200-day moving average price of $59.79. The company 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 0.90. Sun Life Financial Inc. has a twelve month low of $52.44 and a twelve month high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Thursday, August 7th. The financial services provider reported $1.29 EPS for the quarter, meeting the consensus estimate of $1.29. The company had revenue of $6.65 billion during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $1.11 earnings per share. On average, sell-side analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal 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.