Sun Life Financial (NYSE:SLF) Rating Lowered to Hold at StockNews.com

Sun Life Financial (NYSE:SLF) (TSE:SLF) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report released 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 equities research 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.com, the stock has a consensus rating of “Moderate Buy”.

Sun Life Financial Trading Up 0.4 %

Sun Life Financial stock traded up $0.24 during trading hours on Wednesday, hitting $57.98. 1,239,710 shares of the stock traded hands, compared to its average volume of 548,783. Sun Life Financial has a one year low of $46.41 and a one year high of $62.85. The firm’s 50-day moving average price is $59.37 and its two-hundred day moving average price is $56.77. The company has a market cap of $36.42 billion, a PE ratio of 12.91, a PEG ratio of 1.57 and a beta of 1.03.

Hedge Funds Weigh In On Sun Life Financial

Institutional investors and hedge funds have recently made changes to their positions in the business. National Bank of Canada FI raised its holdings in shares of 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 purchasing an additional 1,284,556 shares during the last quarter. CIBC Asset Management Inc lifted 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 purchasing an additional 703,391 shares in the last quarter. 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. FMR LLC raised its stake in shares of Sun Life Financial by 5.2% in the third quarter. FMR LLC now owns 5,189,939 shares of the financial services provider’s stock worth $301,047,000 after buying an additional 257,178 shares during the period. Finally, Cardinal Capital Management Inc. lifted its position in shares of Sun Life Financial by 29.1% during the 4th quarter. Cardinal Capital Management Inc. now owns 1,123,354 shares of the financial services provider’s stock valued at $66,550,000 after buying 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.