Harbour Investments Inc. Sells 207 Shares of Sun Life Financial Inc. $SLF

Harbour Investments Inc. decreased its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,103 shares of the financial services provider’s stock after selling 207 shares during the quarter. Harbour Investments Inc.’s holdings in Sun Life Financial were worth $206,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Goldman Sachs Group Inc. raised its position in Sun Life Financial by 282.5% in the first quarter. Goldman Sachs Group Inc. now owns 2,776,920 shares of the financial services provider’s stock worth $159,006,000 after purchasing an additional 2,050,891 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in shares of Sun Life Financial by 47.2% in the 1st quarter. Canada Pension Plan Investment Board now owns 4,221,447 shares of the financial services provider’s stock valued at $241,643,000 after purchasing an additional 1,353,508 shares during the period. Value Partners Investments Inc. grew its stake in shares of Sun Life Financial by 1,002.9% in the 1st quarter. Value Partners Investments Inc. now owns 1,120,888 shares of the financial services provider’s stock valued at $64,216,000 after purchasing an additional 1,019,254 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Sun Life Financial in the 1st quarter worth approximately $50,968,000. Finally, 1832 Asset Management L.P. raised its holdings in shares of Sun Life Financial by 8.9% in the 1st quarter. 1832 Asset Management L.P. now owns 10,338,250 shares of the financial services provider’s stock worth $591,968,000 after buying an additional 846,735 shares in the last quarter. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SLF. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a report on Wednesday, October 8th. TD Securities raised Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, October 8th. Scotiabank raised Sun Life Financial to a “hold” rating in a report on Thursday, July 31st. Finally, National Bank Financial cut Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Sun Life Financial currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.50.

Sun Life Financial Price Performance

SLF stock opened at $61.07 on Wednesday. The business has a fifty day moving average price of $59.46 and a 200 day moving average price of $60.80. Sun Life Financial Inc. has a fifty-two week low of $52.44 and a fifty-two week high of $66.81. The stock has a market capitalization of $34.10 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.66 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.29. The firm had revenue of $6.65 billion during the quarter, compared to analysts’ expectations 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 period last year, the firm posted $1.11 EPS. On average, equities analysts expect that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal 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.