Barclays Downgrades Sun Life Financial (NYSE:SLF) to Underweight

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

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

Sun Life Financial Price Performance

Shares of NYSE SLF traded down $2.65 during trading on Monday, hitting $62.75. 910,721 shares of the company were exchanged, compared to its average volume of 624,965. The company has a market cap of $35.37 billion, a price-to-earnings ratio of 15.97, a PEG ratio of 1.77 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's fifty day moving average price is $63.46 and its 200 day moving average price is $59.32.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its earnings results on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, topping the consensus estimate of $1.22 by $0.05. The company had revenue of $7.91 billion for the quarter, compared to analyst estimates of $6.44 billion. Sun Life Financial had a net margin of 7.47% and a return on equity of 17.33%. During the same period in the previous year, the firm earned $1.40 EPS. On average, research analysts forecast that Sun Life Financial will post 5.19 earnings per share for the current year.

Hedge Funds Weigh In On Sun Life Financial

Institutional investors have recently modified their holdings of the company. Investment Management Corp VA ADV grew its stake in Sun Life Financial by 164.5% in the 1st quarter. Investment Management Corp VA ADV now owns 619 shares of the financial services provider's stock worth $35,000 after acquiring an additional 385 shares during the period. Hexagon Capital Partners LLC boosted its holdings in shares of Sun Life Financial by 53.2% during the first quarter. Hexagon Capital Partners LLC now owns 665 shares of the financial services provider's stock worth $38,000 after purchasing an additional 231 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Sun Life Financial during the first quarter worth $55,000. GeoWealth Management LLC boosted its holdings in shares of Sun Life Financial by 4,657.1% during the fourth quarter. GeoWealth Management LLC now owns 999 shares of the financial services provider's stock worth $59,000 after purchasing an additional 978 shares during the last quarter. Finally, CX Institutional acquired a new stake in shares of Sun Life Financial during the first quarter worth $109,000. Institutional investors and hedge funds 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.