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 report released on Tuesday.

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

Sun Life Financial Price Performance

Shares of Sun Life Financial stock opened at $60.84 on Tuesday. The firm has a market cap of $38.33 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.55 and a beta of 1.01. The firm has a 50 day simple moving average of $57.68 and a 200 day simple moving average of $53.08. Sun Life Financial has a fifty-two week low of $46.41 and a fifty-two week high of $61.61.

Hedge Funds Weigh In On Sun Life Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. boosted its stake in Sun Life Financial by 0.3% in the third quarter. Assenagon Asset Management S.A. now owns 62,589 shares of the financial services provider’s stock valued at $3,635,000 after acquiring an additional 200 shares during the last quarter. Verdence Capital Advisors LLC boosted its position in shares of 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 purchasing an additional 219 shares in the last quarter. Burney Co. boosted its position in shares of 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 purchasing an additional 238 shares in the last quarter. State Street Corp boosted its position in shares of Sun Life Financial by 0.8% during the third quarter. State Street Corp now owns 39,478 shares of the financial services provider’s stock worth $2,291,000 after purchasing an additional 330 shares in the last quarter. Finally, Addison Advisors LLC boosted its position in shares of Sun Life Financial by 124.9% during 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 in the last quarter. 52.26% of the stock is owned by institutional investors.

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.