Sun Life Financial (NYSE:SLF) Stock Gets Downgrade from National Bank Financial

Sun Life Financial (NYSE:SLF) (TSE:SLF) was downgraded by research analysts at National Bank Financial from an “outperform” rating to a “sector perform” rating in a note issued to investors on Thursday, MarketBeat reports.

Other equities research analysts have also issued research reports about the company. Evercore lowered Sun Life Financial from an “outperform” rating to an “in-line” rating in a research note on Monday, July 13th. UBS Group reissued a “neutral” rating on shares of Sun Life Financial in a research report on Wednesday, September 2nd. Royal Bank Of Canada upped their price target on Sun Life Financial from $98.00 to $119.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. TD Securities reaffirmed a “buy” rating on shares of Sun Life Financial in a research report on Friday, August 7th. Finally, Wall Street Zen upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Sun Life Financial currently has a consensus rating of “Hold” and an average target price of $103.50.

Sun Life Financial Stock Performance

Sun Life Financial stock traded down $1.94 during 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’s 50-day moving average is $79.17 and its two-hundred day moving average is $73.68. Sun Life Financial has a 52-week low of $57.22 and a 52-week high of $84.38. The firm 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 (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $1.47 EPS for the quarter, beating the consensus estimate of $1.45 by $0.02. The company had revenue of $986.89 million for the quarter, compared to analyst estimates of $986.89 million. Sun Life Financial had a return on equity of 17.96% and a net margin of 7.66%. Analysts anticipate that Sun Life Financial will post 5.77 EPS for the current year.

Institutional Inflows and Outflows

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

Sun Life Financial News Roundup

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

About Sun Life Financial

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.