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

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

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

Sun Life Financial Stock Performance

Shares of NYSE:SLF traded down $0.28 during trading on Tuesday, hitting $60.35. The company’s stock had a trading volume of 447,732 shares, compared to its average volume of 659,227. Sun Life Financial has a fifty-two week low of $46.41 and a fifty-two week high of $61.61. The stock’s 50-day moving average price is $57.57 and its two-hundred day moving average price is $53.02. The company has a market capitalization of $38.03 billion, a PE ratio of 13.44, a PEG ratio of 1.55 and a beta of 1.01.

Institutional Trading of Sun Life Financial

Several hedge funds and other institutional investors have recently bought and sold shares of SLF. Vanguard Group Inc. grew its position in shares of Sun Life Financial by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 23,241,910 shares of the financial services provider’s stock worth $1,268,543,000 after acquiring an additional 359,028 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Sun Life Financial by 2.9% in the second quarter. Mackenzie Financial Corp now owns 14,703,533 shares of the financial services provider’s stock worth $721,042,000 after purchasing an additional 407,913 shares during the period. 1832 Asset Management L.P. increased its stake in Sun Life Financial by 5.1% during the second quarter. 1832 Asset Management L.P. now owns 10,216,206 shares of the financial services provider’s stock valued at $500,492,000 after purchasing an additional 499,009 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Sun Life Financial by 7.6% during the third quarter. The Manufacturers Life Insurance Company now owns 9,256,384 shares of the financial services provider’s stock worth $537,288,000 after purchasing an additional 654,404 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in shares of Sun Life Financial by 13.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,601,980 shares of the financial services provider’s stock worth $421,167,000 after buying an additional 1,049,244 shares during 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.