Sun Life Financial (NYSE:SLF) Trading Down 7% – Here’s What Happened

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF)’s share price was down 7% on Thursday . The company traded as low as $53.65 and last traded at $54.86. Approximately 300,462 shares changed hands during trading, a decline of 43% from the average daily volume of 529,314 shares. The stock had previously closed at $59.01.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on SLF shares. National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a report on Wednesday, January 15th. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Sun Life Financial presently has an average rating of “Moderate Buy”.

Sun Life Financial Stock Down 7.4 %

The business’s fifty day moving average is $59.06 and its 200-day moving average is $57.10. The company has a market cap of $34.33 billion, a PE ratio of 12.18, a P/E/G ratio of 1.61 and a beta of 1.03.

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

Institutional Trading of Sun Life Financial

Several hedge funds have recently bought and sold shares of SLF. Creative Planning grew its stake in shares of Sun Life Financial by 1.2% during the 3rd quarter. Creative Planning now owns 48,558 shares of the financial services provider’s stock valued at $2,817,000 after acquiring an additional 590 shares during the period. Heathbridge Capital Management Ltd. purchased a new position in Sun Life Financial during the third quarter valued at approximately $244,000. Well Done LLC bought a new position in shares of Sun Life Financial in the third quarter worth approximately $216,000. Blue Trust Inc. boosted its position in shares of Sun Life Financial by 123.7% in the third quarter. Blue Trust Inc. now owns 7,661 shares of the financial services provider’s stock worth $444,000 after purchasing an additional 4,237 shares during the period. Finally, Signaturefd LLC boosted its position in shares of Sun Life Financial by 5.6% in the third quarter. Signaturefd LLC now owns 25,319 shares of the financial services provider’s stock worth $1,469,000 after purchasing an additional 1,348 shares during the period. 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.