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

Sun Life Financial (NYSE:SLF) (TSE:SLF) was downgraded by equities researchers at National Bank Financial from an “outperform” rating to a “sector perform” rating in a report released on Thursday, Marketbeat.com 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 research note on Thursday, October 29th. Royal Bank Of Canada lifted their target price on Sun Life Financial from $98.00 to $119.00 and gave the company a “sector perform” rating in a research report on Monday, August 10th. TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a report on Friday, August 7th. Wall Street Zen upgraded Sun Life Financial from a “sell” rating to a “hold” rating in a report on Sunday, July 26th. Finally, UBS Group reissued a “neutral” rating on shares of Sun Life Financial in a research report on Wednesday, September 2nd. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Sun Life Financial has an average rating of “Moderate Buy” and a consensus price target of $103.50.

Sun Life Financial Price Performance

Shares of SLF stock opened at $82.00 on Thursday. The company has a market capitalization of $45.54 billion, a P/E ratio of 19.17, a P/E/G ratio of 1.99 and a beta of 0.86. The company’s 50-day simple moving average is $79.42 and its two-hundred day simple moving average is $73.58. Sun Life Financial has a one year low of $57.22 and a one year high of $84.38.

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

Hedge Funds Weigh In On Sun Life Financial

Several institutional investors have recently bought and sold shares of the business. Cassaday & Co Wealth Management LLC purchased a new stake in Sun Life Financial during the first quarter worth $25,000. Scarborough Advisors LLC purchased a new position in shares of Sun Life Financial in the 1st quarter valued at $33,000. First Bancorp Inc ME purchased a new position in shares of Sun Life Financial in the 2nd quarter valued at $35,000. Capital Analysts LLC bought a new position in shares of Sun Life Financial in the 2nd quarter worth $58,000. Finally, Danske Bank A S bought a new position in shares of Sun Life Financial in the 2nd quarter worth $79,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

About Sun Life Financial

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.