Sun Life Financial (NYSE:SLF) Cut to Underweight at Barclays

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF was downgraded by equities researchers at Barclays from an "equal weight" rating to an "underweight" rating in a research note issued on Monday, MarketBeat Ratings reports.

Other equities analysts have also issued reports about the company. Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. BMO Capital Markets reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Monday, May 12th. Finally, Royal Bank Of Canada upped their target price on Sun Life Financial from $82.00 to $88.00 and gave the company an "outperform" rating in a research report on Monday, May 12th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Sun Life Financial presently has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Sun Life Financial Price Performance

NYSE SLF traded up $0.44 on Monday, reaching $62.01. The company had a trading volume of 421,467 shares, compared to its average volume of 626,269. The firm has a market capitalization of $34.95 billion, a PE ratio of 15.78, a P/E/G ratio of 1.68 and a beta of 0.91. Sun Life Financial has a 1 year low of $46.41 and a 1 year high of $66.81. The firm has a 50-day moving average of $63.64 and a 200-day moving average of $59.38.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.05. The firm had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $6.44 billion. Sun Life Financial had a return on equity of 17.33% and a net margin of 7.47%. During the same quarter in the prior year, the business earned $1.40 EPS. As a group, sell-side analysts expect that Sun Life Financial will post 5.19 EPS for the current fiscal year.

Institutional Investors Weigh In On Sun Life Financial

Several institutional investors and hedge funds have recently made changes to their positions in the company. Ryan Investment Management Inc. acquired a new stake in shares of Sun Life Financial during the 2nd quarter valued at approximately $90,000. Wealth Enhancement Advisory Services LLC raised its position in shares of Sun Life Financial by 2.2% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,444 shares of the financial services provider's stock valued at $683,000 after acquiring an additional 224 shares in the last quarter. Mn Services Vermogensbeheer B.V. raised its position in shares of Sun Life Financial by 1.0% during the 2nd quarter. Mn Services Vermogensbeheer B.V. now owns 213,545 shares of the financial services provider's stock valued at $14,180,000 after acquiring an additional 2,200 shares in the last quarter. Baader Bank Aktiengesellschaft acquired a new stake in shares of Sun Life Financial during the 2nd quarter valued at approximately $386,000. Finally, Sivia Capital Partners LLC acquired a new stake in shares of Sun Life Financial during the 2nd quarter valued at approximately $204,000. 52.26% of the stock is owned by institutional investors and hedge funds.

About Sun Life Financial

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.