Sun Life Financial (NYSE:SLF) Downgraded to “Hold” Rating by StockNews.com

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

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

Sun Life Financial Trading Down 0.5 %

NYSE:SLF traded down $0.28 during midday trading on Tuesday, hitting $60.35. 447,732 shares of the company were exchanged, 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 company has a market capitalization of $38.03 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. The company has a fifty day simple moving average of $57.57 and a 200 day simple moving average of $53.02.

Institutional Investors Weigh In On Sun Life Financial

Several institutional investors have recently bought and sold shares of SLF. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 562 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Sun Life Financial by 2,747.4% during the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 522 shares in the last quarter. Addison Advisors LLC boosted its position in shares of Sun Life Financial by 124.9% in the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock worth $38,000 after buying an additional 361 shares during the period. Ridgewood Investments LLC purchased a new stake in shares of Sun Life Financial in the second quarter worth about $39,000. Finally, Clean Yield Group acquired a new stake in shares of Sun Life Financial in the third quarter valued at about $39,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

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.