Sun Life Financial (NYSE:SLF) Stock Price Down 7% – Should You Sell?

Shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) fell 7% during mid-day trading on Thursday . The company traded as low as $53.65 and last traded at $54.86. 300,462 shares were traded during mid-day trading, a decline of 43% from the average session volume of 529,314 shares. The stock had previously closed at $59.01.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. 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 note 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy”.

Sun Life Financial Stock Performance

The company has a 50-day moving average of $58.78 and a 200 day moving average of $57.13. The firm has a market cap of $34.65 billion, a P/E ratio of 12.29, a P/E/G ratio of 1.61 and a beta of 1.03.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts anticipate that Sun Life Financial Inc. will post 4.76 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be issued a $0.5876 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 annualized dividend and a dividend yield of 4.26%. Sun Life Financial’s dividend payout ratio (DPR) is currently 57.46%.

Institutional Investors Weigh In On Sun Life Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLF. Norges Bank acquired a new stake in Sun Life Financial in the fourth quarter valued at $382,176,000. Intact Investment Management Inc. lifted its stake in Sun Life Financial by 295.5% in the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider’s stock valued at $113,453,000 after purchasing an additional 1,427,815 shares during the last quarter. Wellington Management Group LLP increased its position in Sun Life Financial by 2,071.4% during the fourth quarter. Wellington Management Group LLP now owns 1,350,751 shares of the financial services provider’s stock worth $80,160,000 after buying an additional 1,288,545 shares during the last quarter. National Bank of Canada FI raised its stake in Sun Life Financial by 28.2% in the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock valued at $338,621,000 after buying an additional 1,284,556 shares during the period. Finally, Canada Pension Plan Investment Board lifted its position in shares of Sun Life Financial by 71.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 2,867,939 shares of the financial services provider’s stock valued at $170,068,000 after buying an additional 1,200,000 shares during the last quarter. 52.26% of the stock is owned by 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.