Sun Life Financial (NYSE:SLF) Stock Rating Lowered by StockNews.com

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

Separately, Barclays began coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They issued an “equal weight” rating for the company.

Sun Life Financial Stock Up 0.8 %

NYSE:SLF opened at $60.84 on Tuesday. Sun Life Financial has a 12-month low of $46.41 and a 12-month high of $61.61. The firm has a market capitalization of $38.33 billion, a PE ratio of 13.55, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. The firm has a 50-day moving average price of $57.68 and a 200 day moving average price of $53.08.

Institutional Trading of Sun Life Financial

Hedge funds have recently modified their holdings of the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of Sun Life Financial by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock worth $34,474,000 after buying an additional 23,235 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Sun Life Financial by 108.3% during the first quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock worth $3,506,000 after buying an additional 33,401 shares in the last quarter. Tyler Stone Wealth Management increased its holdings in shares of Sun Life Financial by 100.0% during the third quarter. Tyler Stone Wealth Management now owns 17,454 shares of the financial services provider’s stock worth $1,013,000 after buying an additional 8,727 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Sun Life Financial by 845.9% during the first quarter. Bessemer Group Inc. now owns 20,478 shares of the financial services provider’s stock worth $1,117,000 after buying an additional 18,313 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of Sun Life Financial during the second quarter worth approximately $1,520,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

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.