Sun Life Financial (NYSE:SLF) Stock Rating Cut to “Hold” at TD Securities

Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) was downgraded by equities research analysts at TD Securities from a “strong-buy” rating to a “hold” rating in a research note issued on Thursday, Zacks reports.

SLF has been the topic of several other research reports. Weiss Ratings raised Sun Life Financial from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 29th. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research note on Wednesday, October 7th. Evercore downgraded Sun Life Financial from an “outperform” rating to an “in-line” rating in a research report on Monday, July 13th. Scotiabank raised Sun Life Financial from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, October 27th. Finally, National Bank Financial cut Sun Life Financial from an “outperform” rating to a “sector perform” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $103.50.

View Our Latest Report on SLF

Sun Life Financial Trading Down 10.4%

Shares of NYSE SLF opened at $73.47 on Thursday. Sun Life Financial has a 1-year low of $57.22 and a 1-year high of $84.38. The company has a market cap of $40.81 billion, a PE ratio of 19.09, a P/E/G ratio of 2.03 and a beta of 0.86. The company has a 50-day moving average of $79.31 and a two-hundred day moving average of $73.64.

Sun Life Financial (NYSE:SLF – Get Free Report) (TSE:SLF) last announced its earnings results on Wednesday, November 4th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.02. Sun Life Financial had a net margin of 8.62% and a return on equity of 18.76%. The company had revenue of $986.89 million for the quarter, compared to analyst estimates of $986.89 million. As a group, equities research analysts forecast that Sun Life Financial will post 5.77 earnings per share for the current year.

Institutional Trading of Sun Life Financial

A number of institutional investors have recently bought and sold shares of the business. Mather Group LLC. raised its holdings in Sun Life Financial by 10.8% during the 3rd quarter. Mather Group LLC. now owns 1,449 shares of the financial services provider’s stock worth $113,000 after buying an additional 141 shares during the period. Axxcess Wealth Management LLC lifted its stake in Sun Life Financial by 4.6% in the third quarter. Axxcess Wealth Management LLC now owns 3,385 shares of the financial services provider’s stock valued at $264,000 after buying an additional 149 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Sun Life Financial by 1.9% in the third quarter. Fifth Third Bancorp now owns 9,210 shares of the financial services provider’s stock valued at $718,000 after buying an additional 170 shares during the period. Plan A Wealth LLC boosted its holdings in shares of 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 valued at $827,000 after buying an additional 171 shares during the period. Finally, Investment Research Partners LLC boosted its holdings in shares of 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 valued at $823,000 after buying an additional 171 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

Trending Headlines about Sun Life Financial

Here are the key news stories impacting Sun Life Financial this week:

  • Positive Sentiment: Underlying earnings per share rose by double digits, and reported EPS of $1.47 modestly beat the $1.45 consensus estimate. Sun Life also raised its quarterly common dividend by $0.04 to $1.00 per share, payable Dec. 31. Sun Life Q3 results Dividend announcement
  • Neutral Sentiment: Management outlined a target of a 35%+ GreenOak fee-related earnings margin. This is a forward-looking goal, rather than a reported result. GreenOak margin target and dividend
  • Negative Sentiment: Reported Q3 profit fell 29%, tempering the stronger underlying earnings picture. TD Cowen cut its rating from Buy to Hold, while National Bank Financial lowered its rating from Outperform to Sector Perform. Shares also crossed below their 200-day moving average, a technical sign that may weigh on sentiment. Q3 profit report TD Cowen downgrade Moving-average breakdown

Sun Life Financial Company Profile

(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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