Sun Life Financial (NYSE:SLF) Shares Down 7.6% - Should You Sell?

Key Points

• Sun Life Financial's shares fell by 7.6% on Friday, with a recent trading range between $56.49 and $56.81, significantly lower than its previous closing price of $61.49.
• Despite the drop in stock price, analysts maintain a generally optimistic outlook, with a consensus price target of $88.00 and ratings that include one sell, two holds, and three buys.
• The company reported earnings of $1.29 per share, meeting analyst expectations, but its revenue fell short, totaling $6.65 billion against estimates of $7.34 billion.

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF's share price dropped 7.6% during trading on Friday . The stock traded as low as $56.49 and last traded at $56.81. Approximately 334,881 shares traded hands during trading, a decline of 51% from the average daily volume of 676,943 shares. The stock had previously closed at $61.49.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. BMO Capital Markets reiterated an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Royal Bank Of Canada boosted their price target on Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. Scotiabank raised Sun Life Financial to a "hold" rating in a report on Thursday, July 31st. Finally, Barclays downgraded shares of Sun Life Financial from an "equal weight" rating to an "underweight" rating in a report on Monday, July 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $88.00.

Sun Life Financial Stock Down 7.9%

The stock has a fifty day simple moving average of $63.47 and a 200-day simple moving average of $59.82. The company has a market capitalization of $31.89 billion, a P/E ratio of 14.44, a PEG ratio of 1.65 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Thursday, August 7th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.29. Sun Life Financial had a net margin of 7.47% and a return on equity of 17.33%. The company had revenue of $6.65 billion for the quarter, compared to analyst estimates of $7.34 billion. During the same period in the prior year, the business earned $1.11 earnings per share. Analysts predict that Sun Life Financial Inc. will post 5.19 earnings per share for the current fiscal year.

Institutional Trading of Sun Life Financial

Large investors have recently made changes to their positions in the company. Private Trust Co. NA grew its holdings in shares of Sun Life Financial by 130.6% during the second quarter. Private Trust Co. NA now owns 429 shares of the financial services provider's stock worth $29,000 after buying an additional 243 shares in the last quarter. Westside Investment Management Inc. raised its holdings in shares of Sun Life Financial by 62.8% in the second quarter. Westside Investment Management Inc. now owns 578 shares of the financial services provider's stock valued at $38,000 after purchasing an additional 223 shares during the last quarter. Investment Management Corp VA ADV boosted its holdings in Sun Life Financial by 164.5% during the first quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock worth $35,000 after purchasing an additional 385 shares during the last quarter. Tobam bought a new stake in Sun Life Financial during the 2nd quarter worth about $44,000. Finally, Hexagon Capital Partners LLC increased its position in shares of Sun Life Financial by 53.2% in the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 231 shares during 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.

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