Sun Life Financial (NYSE:SLF) Cut to “Hold” at StockNews.com

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

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

Sun Life Financial Price Performance

NYSE SLF opened at $59.21 on Wednesday. The company has a 50 day simple moving average of $59.27 and a 200-day simple moving average of $56.79. The firm has a market capitalization of $37.19 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.57 and a beta of 1.03. Sun Life Financial has a 52-week low of $46.41 and a 52-week high of $62.85.

Hedge Funds Weigh In On Sun Life Financial

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SLF. National Bank of Canada FI raised its position in Sun Life Financial by 28.2% during the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock valued at $338,621,000 after acquiring an additional 1,284,556 shares in the last quarter. CIBC Asset Management Inc raised its position in Sun Life Financial by 10.8% during the fourth 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 in the last quarter. The Manufacturers Life Insurance Company raised its position 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 acquiring an additional 654,404 shares in the last quarter. FMR LLC raised its position in 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 valued at $301,047,000 after acquiring an additional 257,178 shares in the last quarter. Finally, Cardinal Capital Management Inc. raised its position in Sun Life Financial by 29.1% during the fourth quarter. Cardinal Capital Management Inc. now owns 1,123,354 shares of the financial services provider’s stock valued at $66,550,000 after acquiring an additional 253,488 shares in the last quarter. Institutional investors own 52.26% of the company’s stock.

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.