Sun Life Financial (NYSE:SLF) Stock Gets Downgrade from TD Securities

Sun Life Financial (NYSE:SLF) (TSE:SLF) was downgraded by analysts at TD Securities from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks reports.

Several other equities research analysts have also commented on the company. Argus upped their price target on Sun Life Financial from $81.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. UBS Group reaffirmed a “neutral” rating on shares of Sun Life Financial in a research report on Wednesday, September 2nd. Barclays reissued an “underweight” rating on shares of Sun Life Financial in a research report on Wednesday, October 7th. Scotiabank upgraded Sun Life Financial from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, October 27th. Finally, National Bank Financial lowered shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $103.50.

Sun Life Financial Stock Down 2.6%

Shares of SLF traded down $1.94 during mid-day trading on Thursday, reaching $71.54. 562,346 shares of the company’s stock were exchanged, compared to its average volume of 384,230. The company has a market cap of $39.73 billion, a price-to-earnings ratio of 18.59, a PEG ratio of 2.00 and a beta of 0.86. Sun Life Financial has a 52-week low of $57.22 and a 52-week high of $84.38. The company has a 50-day simple moving average of $79.17 and a two-hundred day simple moving average of $73.68.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its earnings results on Wednesday, November 4th. The financial services provider reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.02. The firm had revenue of $986.89 million during the quarter, compared to the consensus estimate of $986.89 million. Sun Life Financial had a net margin of 7.66% and a return on equity of 17.96%. As a group, equities research analysts predict that Sun Life Financial will post 5.77 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SLF. Cassaday & Co Wealth Management LLC bought a new position in shares of Sun Life Financial during the 1st quarter worth about $25,000. First Bancorp Inc ME bought a new stake in shares of Sun Life Financial during the second quarter worth $35,000. Scarborough Advisors LLC acquired a new position in shares of Sun Life Financial during the first quarter worth approximately $33,000. Capital Analysts LLC bought a new position in Sun Life Financial in the 2nd quarter valued at $58,000. Finally, Danske Bank A S acquired a new stake in Sun Life Financial in the second quarter worth about $79,000. Institutional investors own 52.26% of the company’s stock.

Trending Headlines about Sun Life Financial

Here are the key news stories impacting Sun Life Financial this week:

• Positive Sentiment: Sun Life reported third-quarter EPS of $1.47, slightly above the $1.45 consensus estimate. Underlying earnings per share also rose, despite lower reported profit. Sun Life Financial Q3 Underlying EPS Rises
• Positive Sentiment: The company raised its quarterly dividend by 4.1% to $1 per share, signaling continued cash returns to shareholders. Sun Life Financial Raises Dividend by 4.1%
• Neutral Sentiment: Sun Life set a target of a 35% or higher FRE margin for GreenOak, highlighting a focus on improving the business’s profitability. Sun Life targets GreenOak FRE margin of 35%+
• Negative Sentiment: Several firms lowered their ratings: TD Securities moved Sun Life from “strong-buy” to “hold,” TD Cowen from “buy” to “hold,” and National Bank Financial from “outperform” to “sector perform.” The downgrades may signal reduced optimism about near-term upside. TD Cowen downgrade
• Negative Sentiment: Reported third-quarter profit fell 29%, tempering the earnings beat. Shares also moved below their 200-day moving average, a technical signal that can add to selling pressure. Sun Life Q3 Profit Falls 29% Shares cross below 200-day moving average

Sun Life Financial Company Profile

Sun Life Financial Inc is a Canadian financial services company that provides insurance, wealth management and asset management services. Founded in 1865 as Sun Life Assurance Company of Canada, it has grown into an international business serving individual, workplace and institutional clients.

The company offers life, health and dental insurance, disability coverage and group benefits, as well as savings, retirement and investment products. Its asset management businesses provide investment management services to individuals and institutions.

Sun Life serves clients in Canada, the United States and markets across Asia, and its asset management operations have a global reach.