Sun Life Financial (NYSE:SLF) Stock Price Breaks Below 200-Day Moving Average After Analyst Downgrade

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) passed below its 200-day moving average during trading on Thursday after National Bank Financial downgraded the stock from an outperform rating to a sector perform rating. The stock has a 200-day moving average of $73.64 and traded as low as $72.81. Sun Life Financial shares last traded at $73.4730, with a volume of 1,015,267 shares.

A number of other research analysts have also issued reports on SLF. Royal Bank Of Canada boosted their target price on shares of Sun Life Financial from $98.00 to $119.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. Evercore lowered shares of Sun Life Financial from an “outperform” rating to an “in-line” rating in a research note on Monday, July 13th. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a research report on Wednesday, October 7th. Argus boosted their price objective on Sun Life Financial from $81.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, September 3rd. Finally, Scotiabank raised Sun Life Financial from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Sun Life Financial has an average rating of “Moderate Buy” and an average price target of $103.50.

Trending Headlines about 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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Keybank National Association OH raised its holdings in Sun Life Financial by 10.7% during the third quarter. Keybank National Association OH now owns 7,944 shares of the financial services provider’s stock worth $619,000 after purchasing an additional 770 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in Sun Life Financial during the 3rd quarter valued at $119,000. St. Louis Trust Co bought a new position in Sun Life Financial during the 3rd quarter valued at $264,000. Ethic Inc. boosted its stake in Sun Life Financial by 11.0% during the 3rd quarter. Ethic Inc. now owns 30,851 shares of the financial services provider’s stock valued at $2,405,000 after purchasing an additional 3,063 shares in the last quarter. Finally, StoneX Group Inc. acquired a new position in shares of Sun Life Financial during the 3rd quarter valued at $337,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Trading Down 10.4%

The company has a market capitalization of $40.81 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 2.03 and a beta of 0.86. The firm has a 50-day moving average price of $79.31 and a 200-day moving average price of $73.64.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $1.47 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.02. The business had revenue of $986.89 million during 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%. Equities research analysts predict that Sun Life Financial Inc. will post 5.77 EPS 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 C$1.00 dividend. This represents a $4.00 annualized dividend and a yield of 5.4%. This is a boost from Sun Life Financial’s previous quarterly dividend of C$0.96. The ex-dividend date is Wednesday, November 25th. Sun Life Financial’s dividend payout ratio (DPR) is presently 64.02%.

Sun Life Financial Company Profile

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.