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

StockNews.com downgraded shares of Sun Life Financial (NYSE:SLF) (TSE:SLF) from a buy rating to a hold rating in a research note published on Wednesday morning.

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

Sun Life Financial Trading Up 0.4 %

Shares of NYSE SLF opened at $57.98 on Wednesday. Sun Life Financial has a 1 year low of $46.41 and a 1 year high of $62.85. The firm’s 50-day moving average is $59.37 and its 200-day moving average is $56.77. The firm has a market capitalization of $36.42 billion, a PE ratio of 12.91, a price-to-earnings-growth ratio of 1.57 and a beta of 1.03.

Institutional Trading of Sun Life Financial

A number of institutional investors and hedge funds have recently modified their holdings of SLF. The Manufacturers Life Insurance Company grew its holdings in Sun Life Financial by 7.6% during the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock valued at $537,288,000 after purchasing an additional 654,404 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Sun Life Financial by 1.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,841,712 shares of the financial services provider’s stock valued at $164,876,000 after buying an additional 34,072 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Sun Life Financial in the 3rd quarter valued at $878,000. FMR LLC increased its position in shares of Sun Life Financial by 5.2% in the 3rd quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock valued at $301,047,000 after buying an additional 257,178 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Sun Life Financial by 5.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,580,531 shares of the financial services provider’s stock worth $91,778,000 after acquiring an additional 79,155 shares in the last quarter. 52.26% of the stock is owned by institutional investors.

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.