Sun Life Financial (NYSE:SLF) Stock Dropped to Sector Perform by National Bank Financial

Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) was downgraded by stock analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a report released on Thursday, Marketbeat reports.

SLF has been the topic of a number of other reports. Argus boosted their price target on Sun Life Financial from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Weiss Ratings upgraded shares of Sun Life Financial from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 29th. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a report on Wednesday, October 7th. Royal Bank Of Canada upped their target price on shares of Sun Life Financial from $98.00 to $119.00 and gave the stock a “sector perform” rating in a research report on Monday, August 10th. Finally, Evercore cut shares of Sun Life Financial from an “outperform” rating to an “in-line” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Sun Life Financial presently has a consensus rating of “Moderate Buy” and an average target price of $103.50.

Check Out Our Latest Research Report on Sun Life Financial

Sun Life Financial Stock Up 1.9%

Shares of Sun Life Financial stock opened at $82.00 on Thursday. The stock’s 50-day simple moving average is $79.42 and its 200-day simple moving average is $73.58. Sun Life Financial has a 52 week low of $57.22 and a 52 week high of $84.38. The company has a market capitalization of $45.54 billion, a price-to-earnings ratio of 19.17, a PEG ratio of 1.99 and a beta of 0.86.

Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last released its earnings results on Thursday, August 6th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.39 by $0.07. The firm had revenue of $10.10 billion during the quarter, compared to analysts’ expectations of $994.33 million. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. On average, equities analysts expect that Sun Life Financial will post 5.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Mather Group LLC. increased its position in Sun Life Financial by 10.8% during the third quarter. Mather Group LLC. now owns 1,449 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 141 shares during the last quarter. Axxcess Wealth Management LLC raised its position in Sun Life Financial by 4.6% in the 3rd quarter. Axxcess Wealth Management LLC now owns 3,385 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 149 shares during the period. Plan A Wealth LLC lifted its stake in Sun Life Financial by 1.6% in the third quarter. Plan A Wealth LLC now owns 10,602 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 171 shares during the last quarter. Investment Research Partners LLC lifted its stake in Sun Life Financial by 1.6% in the third quarter. Investment Research Partners LLC now owns 10,561 shares of the financial services provider’s stock worth $823,000 after purchasing an additional 171 shares during the last quarter. Finally, Candriam S.C.A. lifted its stake in Sun Life Financial by 1.8% in the first quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider’s stock worth $612,000 after purchasing an additional 177 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

About Sun Life Financial

(Get Free Report)

Sun Life Financial Inc (NYSE: SLF) is a Canadian financial services company that provides insurance, wealth, and asset management solutions to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and savings products; investment solutions; and employee benefits.

Through its asset management businesses, Sun Life provides investment management and advisory services to institutional and retail clients. The company also offers workplace pension, group insurance, and employee wellness programs, helping employers support the financial security and health of their employees.

Founded in Montreal in 1865, Sun Life serves clients primarily in Canada, the United States, and several Asian markets, including Hong Kong, the Philippines, Indonesia, India, and Vietnam.

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Analyst Recommendations for Sun Life Financial (NYSE:SLF)

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