Sun Life Financial (NYSE:SLF) Raised to “Buy” at StockNews.com

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

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

Sun Life Financial Price Performance

Shares of NYSE SLF traded up $1.13 during mid-day trading on Wednesday, reaching $58.90. 1,195,531 shares of the company’s stock traded hands, compared to its average volume of 656,957. Sun Life Financial has a 1-year low of $46.41 and a 1-year high of $59.03. The stock has a market cap of $37.11 billion, a P/E ratio of 13.12, a PEG ratio of 1.43 and a beta of 1.01. The business has a 50-day simple moving average of $56.62 and a 200 day simple moving average of $52.48.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.68% and a net margin of 7.32%. The business had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.72 billion. Equities research analysts anticipate that Sun Life Financial will post 4.86 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in Sun Life Financial by 6,244.4% during the 2nd quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock valued at $28,000 after buying an additional 562 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 522 shares during the period. Addison Advisors LLC boosted its holdings in shares of Sun Life Financial by 124.9% in the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 361 shares during the period. Ridgewood Investments LLC purchased a new position in Sun Life Financial during the 2nd quarter valued at $39,000. Finally, Clean Yield Group purchased a new position in Sun Life Financial during the 3rd quarter valued at $39,000. Institutional investors 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.