Sun Life Financial (NYSE:SLF) Stock Bumped Down to “Sector Perform” by National Bank Financial

National Bank Financial downgraded shares of Sun Life Financial (NYSE:SLF) (TSE:SLF) from an outperform rating to a sector perform rating in a report published on Thursday, Marketbeat reports.

A number of other research analysts have also recently issued reports on SLF. Weiss Ratings raised Sun Life Financial from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 29th. Royal Bank Of Canada upped their price objective on Sun Life Financial from $98.00 to $119.00 and gave the stock a “sector perform” rating in a report on Monday, August 10th. Argus upped their target price on shares of Sun Life Financial from $81.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, September 3rd. Barclays restated an “underweight” rating on shares of Sun Life Financial in a research report on Wednesday, October 7th. Finally, TD Securities restated a “buy” rating on shares of Sun Life Financial in a report on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $103.50.

Sun Life Financial Trading Down 10.4%

Shares of Sun Life Financial stock opened at $73.47 on Thursday. The company’s fifty day simple moving average is $79.31 and its 200-day simple moving average is $73.64. The company has a market cap of $40.81 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 2.03 and a beta of 0.86. Sun Life Financial has a 1 year low of $57.22 and a 1 year high of $84.38.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.45 by $0.02. The firm had revenue of $986.89 million for the quarter, compared to analyst estimates of $986.89 million. Sun Life Financial had a return on equity of 18.76% and a net margin of 8.62%. As a group, research analysts forecast that Sun Life Financial will post 5.77 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Wednesday, November 25th will be given a dividend of C$1.00 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of C$0.96. The ex-dividend date of this dividend is Wednesday, November 25th. This represents a $4.00 annualized dividend and a yield of 5.4%. Sun Life Financial’s payout ratio is presently 64.02%.

Hedge Funds Weigh In On Sun Life Financial

A number of large investors have recently modified their holdings of SLF. Mather Group LLC. lifted its stake in Sun Life Financial by 10.8% in the third quarter. Mather Group LLC. now owns 1,449 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 141 shares during the last quarter. Axxcess Wealth Management LLC increased its stake in shares of Sun Life Financial by 4.6% during the 3rd quarter. Axxcess Wealth Management LLC now owns 3,385 shares of the financial services provider’s stock worth $264,000 after purchasing an additional 149 shares during the last quarter. Fifth Third Bancorp increased its stake in shares of Sun Life Financial by 1.9% during the 3rd quarter. Fifth Third Bancorp now owns 9,210 shares of the financial services provider’s stock worth $718,000 after purchasing an additional 170 shares during the last quarter. Plan A Wealth LLC increased its stake in shares of Sun Life Financial by 1.6% during the 3rd quarter. Plan A Wealth LLC now owns 10,602 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 171 shares during the last quarter. Finally, Investment Research Partners LLC raised its holdings in shares of Sun Life Financial by 1.6% in the 3rd quarter. Investment Research Partners LLC now owns 10,561 shares of the financial services provider’s stock valued at $823,000 after purchasing an additional 171 shares during the period. 52.26% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting Sun Life Financial

Here are the key news stories impacting Sun Life Financial this week:

• Positive Sentiment: Sun Life raised its quarterly common dividend by 4 cents to $1.00 per share, payable December 31. The increase signals confidence in cash generation and may appeal to income-focused investors. Dividend announcement
• Positive Sentiment: Underlying EPS rose by double digits, with quarterly EPS of $1.47 slightly above the $1.45 analyst consensus. Results reflected growth in Canada, Asia, U.S. stop-loss and GreenOak. Third-quarter results
• Positive Sentiment: Sun Life set a target of a 35%+ FRE margin for GreenOak, indicating an emphasis on improving the business’s profitability. GreenOak margin target and dividend
• Negative Sentiment: Reported Q3 profit fell 29%, contrasting with the growth in underlying earnings and tempering the otherwise positive results. Q3 profit report
• Negative Sentiment: TD Cowen cut its rating to Hold from Buy, and National Bank Financial downgraded the stock to Sector Perform from Outperform. The rating changes may add pressure by signaling more cautious near-term analyst views. TD Cowen downgrade

About Sun Life Financial

Sun Life Financial Inc (NYSE: SLF) is a Canadian financial services company that provides insurance, wealth, and asset management solutions to individuals, businesses, and institutions. Its offerings include life, health, and dental insurance; retirement and savings products; investment solutions; and employee benefits.

Through its asset management businesses, Sun Life provides investment management and advisory services to institutional and retail clients. The company also offers workplace pension, group insurance, and employee wellness programs, helping employers support the financial security and health of their employees.

Founded in Montreal in 1865, Sun Life serves clients primarily in Canada, the United States, and several Asian markets, including Hong Kong, the Philippines, Indonesia, India, and Vietnam.