Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) was downgraded by research analysts at Edward Jones from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

Other equities analysts have also issued research reports about the company. Morgan Stanley reaffirmed a “hold” rating on shares of Sun Life Financial in a research note on Sunday, August 14th. TD Securities reaffirmed a “buy” rating and set a $47.00 price target on shares of Sun Life Financial in a research note on Saturday, August 13th. Scotiabank reaffirmed an “outperform” rating and set a $46.00 price target (down previously from $48.00) on shares of Sun Life Financial in a research note on Saturday, August 13th. BMO Capital Markets reaffirmed a “hold” rating on shares of Sun Life Financial in a research note on Friday, November 11th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $46.00 price target (down previously from $47.00) on shares of Sun Life Financial in a research note on Thursday, August 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have given a buy rating to the company’s stock. Sun Life Financial presently has an average rating of “Buy” and a consensus target price of $45.25.

Analyst Recommendations for Sun Life Financial (NYSE:SLF)

Shares of Sun Life Financial (NYSE:SLF) traded up 2.23% during midday trading on Monday, reaching $39.34. The company’s stock had a trading volume of 628,343 shares. The company has a market cap of $24.11 billion, a price-to-earnings ratio of 14.26 and a beta of 1.17. The stock has a 50-day moving average of $34.10 and a 200 day moving average of $33.12. Sun Life Financial has a 12 month low of $25.31 and a 12 month high of $39.38.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 30th. Investors of record on Wednesday, November 30th will be issued a dividend of $0.3134 per share. The ex-dividend date of this dividend is Monday, November 28th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.31. This represents a $1.25 dividend on an annualized basis and a dividend yield of 3.21%. Sun Life Financial’s dividend payout ratio (DPR) is presently 44.13%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Americafirst Capital Management LLC purchased a new position in Sun Life Financial during the second quarter worth about $110,000. Riverhead Capital Management LLC increased its position in Sun Life Financial by 2.9% in the third quarter. Riverhead Capital Management LLC now owns 3,600 shares of the company’s stock worth $117,000 after buying an additional 102 shares during the last quarter. Catalyst Capital Advisors LLC purchased a new position in Sun Life Financial during the third quarter worth about $142,000. Cribstone Capital Management LLC purchased a new position in Sun Life Financial during the second quarter worth about $147,000. Finally, Advisory Services Network LLC increased its position in Sun Life Financial by 0.8% in the third quarter. Advisory Services Network LLC now owns 4,991 shares of the company’s stock worth $162,000 after buying an additional 40 shares during the last quarter. Institutional investors and hedge funds own 42.62% of the company’s stock.

Sun Life Financial Company Profile

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services organization providing a range of protection and wealth products and services. It operates in five segments: Sun Life Financial Canada (SLF Canada), Sun Life Financial United States (SLF U.S.), Sun Life Financial Asset Management (SLF Asset Management), Sun Life Financial Asia (SLF Asia) and Corporate.

5 Day Chart for NYSE:SLF

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