Sun Life Financial (NYSE:SLF) Shares Down 7% – Time to Sell?

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) shares fell 7% on Thursday . The company traded as low as $53.65 and last traded at $54.86. 300,462 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 529,314 shares. The stock had previously closed at $59.01.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLF. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, January 15th. StockNews.com lowered shares of Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Sun Life Financial Price Performance

The stock’s 50-day moving average is $59.06 and its two-hundred day moving average is $57.10. The stock has a market cap of $34.33 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last released its quarterly earnings data on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.30. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. On average, analysts anticipate that Sun Life Financial Inc. will post 4.76 EPS for the current fiscal year.

Institutional Investors Weigh In On Sun Life Financial

Hedge funds have recently bought and sold shares of the business. Norges Bank purchased a new position in shares of Sun Life Financial in the 4th quarter worth $382,176,000. Intact Investment Management Inc. lifted its holdings in shares of Sun Life Financial by 295.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider’s stock valued at $113,453,000 after acquiring an additional 1,427,815 shares during the last quarter. Wellington Management Group LLP grew its position in Sun Life Financial by 2,071.4% in the fourth quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider’s stock worth $80,160,000 after acquiring an additional 1,288,545 shares in the last quarter. National Bank of Canada FI raised its position in Sun Life Financial by 28.2% during the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock valued at $338,621,000 after purchasing an additional 1,284,556 shares during the period. Finally, Geode Capital Management LLC raised its position in Sun Life Financial by 30.6% during the fourth quarter. Geode Capital Management LLC now owns 3,467,275 shares of the financial services provider’s stock valued at $210,080,000 after purchasing an additional 812,689 shares during the period. Hedge funds and other 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.