StockNews.com Downgrades Sun Life Financial (NYSE:SLF) to Hold

Sun Life Financial (NYSE:SLF) (TSE:SLF) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Wednesday.

Separately, National Bank Financial upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Up 0.4 %

SLF stock traded up $0.24 during midday trading on Wednesday, hitting $57.98. The company’s stock had a trading volume of 1,239,710 shares, compared to its average volume of 548,783. The firm has a market capitalization of $36.42 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 1.57 and a beta of 1.03. Sun Life Financial has a 12 month low of $46.41 and a 12 month high of $62.85. The company has a 50 day moving average of $59.37 and a two-hundred day moving average of $56.77.

Institutional Investors Weigh In On Sun Life Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company raised its position in Sun Life Financial by 7.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after purchasing an additional 654,404 shares during the period. CIBC Asset Management Inc grew its position in Sun Life Financial by 10.8% in the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock valued at $427,712,000 after acquiring an additional 703,391 shares during the last quarter. National Bank of Canada FI increased its stake in Sun Life Financial by 28.2% in the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock worth $338,621,000 after purchasing an additional 1,284,556 shares during the period. FMR LLC lifted its position in shares of Sun Life Financial by 5.2% during the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock worth $301,047,000 after purchasing an additional 257,178 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Sun Life Financial by 1.2% during the third quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock valued at $164,876,000 after purchasing an additional 34,072 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

Sun Life Financial Company Profile

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.