Sun Life Financial (NYSE:SLF) Raised to “Buy” at StockNews.com

Sun Life Financial (NYSE:SLF) (TSE:SLF) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Separately, Barclays assumed coverage on shares of Sun Life Financial in a report on Thursday, September 5th. They set an “equal weight” rating on the stock.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock opened at $59.62 on Wednesday. The business has a 50-day simple moving average of $56.62 and a 200 day simple moving average of $52.48. Sun Life Financial has a one year low of $46.41 and a one year high of $59.81. The firm has a market capitalization of $37.57 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.43 and a beta of 1.01.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.68% and a net margin of 7.32%. The firm had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. On average, sell-side analysts expect that Sun Life Financial will post 4.86 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its position in shares of Sun Life Financial by 0.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock worth $3,635,000 after buying an additional 200 shares in the last quarter. Verdence Capital Advisors LLC lifted its holdings in Sun Life Financial by 1.8% during the second quarter. Verdence Capital Advisors LLC now owns 12,160 shares of the financial services provider’s stock worth $596,000 after acquiring an additional 219 shares during the period. Burney Co. lifted its holdings in Sun Life Financial by 0.3% during the first quarter. Burney Co. now owns 89,252 shares of the financial services provider’s stock worth $4,871,000 after acquiring an additional 238 shares during the period. Addison Advisors LLC boosted its position in Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 361 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in Sun Life Financial by 3.0% in the 1st quarter. Blair William & Co. IL now owns 12,568 shares of the financial services provider’s stock valued at $686,000 after purchasing an additional 366 shares during the period. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

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.