Sun Life Financial (NYSE:SLF) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Sun Life Financial from hold to sell, adding to a mixed analyst picture that still averages out to a Moderate Buy with a target price of $84.67.
• Despite the downgrade, Sun Life Financial has recently posted solid results, including Q1 EPS of $1.38, which beat estimates, and the company is forecast to earn 5.69 EPS for the current fiscal year.
• The stock has been trading near its highs, opening at $81.82 with a 52-week high of $82.25, while institutional investors remain heavily involved and own about 52.26% of the company.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued to investors on Saturday.

Several other research analysts have also commented on the company. Evercore lowered Sun Life Financial from an "outperform" rating to an "in-line" rating in a report on Monday, July 13th. Scotiabank reiterated a "sector perform" rating on shares of Sun Life Financial in a research report on Wednesday. National Bank Financial raised shares of Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Friday, April 24th. Weiss Ratings reissued a "buy (b)" rating on shares of Sun Life Financial in a report on Monday, July 6th. Finally, TD Securities restated a "buy" rating on shares of Sun Life Financial in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $84.67.

Sun Life Financial Stock Performance

Shares of SLF stock opened at $81.82 on Friday. The company has a market capitalization of $45.60 billion, a PE ratio of 21.09 and a beta of 0.88. Sun Life Financial has a 52-week low of $56.22 and a 52-week high of $82.25. The business's fifty day moving average is $75.86 and its 200 day moving average is $68.91.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.35 by $0.03. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.The business had revenue of $6.41 billion during the quarter, compared to analysts' expectations of $925.99 million. During the same period in the previous year, the business earned $1.82 earnings per share. On average, sell-side analysts forecast that Sun Life Financial will post 5.69 EPS for the current fiscal year.

Institutional Trading of Sun Life Financial

Hedge funds have recently bought and sold shares of the company. Norges Bank purchased a new position in shares of Sun Life Financial during the fourth quarter worth approximately $398,037,000. Morgan Stanley boosted its stake in shares of Sun Life Financial by 86.6% in the 4th quarter. Morgan Stanley now owns 3,952,646 shares of the financial services provider's stock valued at $246,645,000 after purchasing an additional 1,834,772 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Sun Life Financial by 2,187.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,601,200 shares of the financial services provider's stock valued at $100,276,000 after purchasing an additional 1,531,200 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Sun Life Financial by 27.1% during the 4th quarter. Bank of Nova Scotia now owns 5,991,249 shares of the financial services provider's stock valued at $373,984,000 after purchasing an additional 1,277,583 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in shares of Sun Life Financial by 123.4% during the 4th quarter. Wellington Management Group LLP now owns 2,245,209 shares of the financial services provider's stock valued at $140,339,000 after purchasing an additional 1,240,241 shares during the last quarter. Institutional investors own 52.26% of the company's stock.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.

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