Sun Life Financial (NYSE:SLF) Stock Rating Lowered by Royal Bank Of Canada

Sun Life Financial (NYSE:SLF) (TSE:SLF) was downgraded by Royal Bank Of Canada from a “moderate buy” rating to a “hold” rating in a research report issued to clients and investors on Friday,Zacks.com reports.

A number of other research firms have also weighed in on SLF. Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a research note on Wednesday, October 8th. TD Securities raised Sun Life Financial from a “hold” rating to a “buy” rating in a report on Tuesday, October 7th. Morgan Stanley set a $89.00 price objective on shares of Sun Life Financial in a report on Tuesday, October 7th. Weiss Ratings reiterated a “buy (b)” rating on shares of Sun Life Financial in a research report on Wednesday, October 8th. Finally, Argus upgraded shares of Sun Life Financial to a “strong-buy” rating in a research report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Sun Life Financial currently has a consensus rating of “Hold” and a consensus target price of $88.50.

Sun Life Financial Stock Down 0.9%

Shares of SLF opened at $58.54 on Friday. The business has a 50-day simple moving average of $60.18 and a two-hundred day simple moving average of $61.31. Sun Life Financial has a 52 week low of $52.44 and a 52 week high of $66.81. The stock has a market cap of $32.69 billion, a price-to-earnings ratio of 14.49, a PEG ratio of 1.67 and a beta of 0.90.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its earnings results on Wednesday, November 5th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.05. The company had revenue of $944.53 million during the quarter, compared to analyst estimates of $944.53 million. Sun Life Financial had a net margin of 7.59% and a return on equity of 17.21%. During the same period in the prior year, the firm posted $2.33 EPS. On average, equities analysts anticipate that Sun Life Financial will post 5.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sun Life Financial

Large investors have recently modified their holdings of the stock. Brighton Jones LLC bought a new position in Sun Life Financial during the fourth quarter valued at $244,000. Principal Financial Group Inc. boosted its stake in shares of Sun Life Financial by 12.3% during the 1st quarter. Principal Financial Group Inc. now owns 26,533 shares of the financial services provider’s stock worth $1,518,000 after purchasing an additional 2,900 shares during the period. Bank of New York Mellon Corp grew its holdings in Sun Life Financial by 5.7% during the 1st quarter. Bank of New York Mellon Corp now owns 591,310 shares of the financial services provider’s stock valued at $33,858,000 after purchasing an additional 32,048 shares during the last quarter. Cerity Partners LLC raised its position in Sun Life Financial by 4.3% in the 1st quarter. Cerity Partners LLC now owns 24,889 shares of the financial services provider’s stock worth $1,425,000 after purchasing an additional 1,022 shares during the period. Finally, Ballentine Partners LLC bought a new stake in Sun Life Financial in the first quarter worth about $263,000. 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.