Bessemer Group Inc. Reduces Stake in Sun Life Financial Inc. $SLF

Bessemer Group Inc. reduced its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 34.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 54,809 shares of the financial services provider’s stock after selling 28,641 shares during the period. Bessemer Group Inc.’s holdings in Sun Life Financial were worth $3,287,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SLF. Private Trust Co. NA grew its holdings in Sun Life Financial by 130.6% during the second quarter. Private Trust Co. NA now owns 429 shares of the financial services provider’s stock valued at $29,000 after purchasing an additional 243 shares during the period. Westside Investment Management Inc. lifted its position in shares of Sun Life Financial by 62.8% during the 2nd quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider’s stock valued at $38,000 after buying an additional 223 shares during the last quarter. Tobam purchased a new stake in Sun Life Financial in the 2nd quarter worth about $44,000. Addison Advisors LLC increased its holdings in Sun Life Financial by 48.8% in the 2nd quarter. Addison Advisors LLC now owns 704 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 231 shares during the last quarter. Finally, MAI Capital Management raised its stake in Sun Life Financial by 121.8% in the 2nd quarter. MAI Capital Management now owns 896 shares of the financial services provider’s stock valued at $60,000 after acquiring an additional 492 shares during the period. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of NYSE:SLF opened at $65.23 on Friday. The firm has a fifty day moving average price of $61.95 and a two-hundred day moving average price of $60.55. The company has a market cap of $36.12 billion, a price-to-earnings ratio of 17.35 and a beta of 0.88. Sun Life Financial Inc. has a one year low of $52.44 and a one year high of $66.81.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings data on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.05. Sun Life Financial had a return on equity of 16.93% and a net margin of 7.53%.The company had revenue of $944.53 million for the quarter, compared to the consensus estimate of $944.53 million. During the same quarter last year, the business posted $2.33 earnings per share. Equities research analysts expect that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SLF shares. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a research note on Thursday, January 8th. Canadian Imperial Bank of Commerce reiterated a “neutral” rating on shares of Sun Life Financial in a research note on Thursday, January 8th. UBS Group began coverage on shares of Sun Life Financial in a report on Thursday, October 16th. They set a “neutral” rating on the stock. Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, January 21st. Finally, National Bankshares reaffirmed a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $86.50.

Sun Life Financial Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.