Mn Services Vermogensbeheer B.V. Raises Position in Sun Life Financial Inc. $SLF

Mn Services Vermogensbeheer B.V. grew its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 213,545 shares of the financial services provider’s stock after acquiring an additional 2,200 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Sun Life Financial were worth $14,180,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in SLF. Investment Management Corp VA ADV boosted its holdings in 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 valued at $35,000 after purchasing an additional 385 shares in the last quarter. Hexagon Capital Partners LLC boosted its stake in shares of Sun Life Financial by 53.2% in 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 in the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Sun Life Financial in the first quarter valued at approximately $55,000. CX Institutional purchased a new stake in shares of Sun Life Financial in the first quarter valued at approximately $109,000. Finally, Harbour Investments Inc. boosted its stake in shares of Sun Life Financial by 12.1% in 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 in the last quarter. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Up 0.6%

Sun Life Financial stock opened at $59.45 on Friday. 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 $33.32 billion, a PE ratio of 14.71, a P/E/G ratio of 1.58 and a beta of 0.89. The firm’s 50-day simple moving average is $59.75 and its 200 day simple moving average is $60.09.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly 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. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. The company had revenue of $6.65 billion for the quarter, compared to the consensus estimate of $7.34 billion. During the same quarter in the prior year, the firm earned $1.11 earnings per share. On average, research analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.