Sun Life Financial (NYSE:SLF) Shares Down 7% - Should You Sell?

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF's stock price was down 7% during mid-day trading on Thursday . The company traded as low as $53.65 and last traded at $54.86. Approximately 300,462 shares traded hands during trading, a decline of 43% from the average daily volume of 529,314 shares. The stock had previously closed at $59.01.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SLF. National Bank Financial upgraded Sun Life Financial from a "sector perform" rating to an "outperform" rating in a research note on Wednesday, January 15th. StockNews.com downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a research report 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 given a strong buy rating to the company. According to MarketBeat, the company currently has an average 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 $57.23. The stock has a market cap of $34.65 billion, a price-to-earnings ratio of 12.29, a PEG ratio of 1.61 and a beta of 1.03.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last released its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.90 by $0.30. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. As a group, equities research analysts forecast that Sun Life Financial Inc. will post 4.76 EPS for the current year.

Sun Life Financial Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be given a dividend of $0.5876 per share. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $2.35 dividend on an annualized basis and a yield of 4.26%. Sun Life Financial's payout ratio is currently 57.46%.

Institutional Investors Weigh In On Sun Life Financial

A number of hedge funds have recently added to or reduced their stakes in SLF. Human Investing LLC acquired a new position in Sun Life Financial during the 4th quarter worth approximately $26,000. Assetmark Inc. boosted its stake in shares of Sun Life Financial by 2,747.4% in the third quarter. Assetmark Inc. now owns 541 shares of the financial services provider's stock valued at $31,000 after buying an additional 522 shares in the last quarter. Addison Advisors LLC grew its holdings in Sun Life Financial by 124.9% during the third quarter. Addison Advisors LLC now owns 650 shares of the financial services provider's stock worth $38,000 after acquiring an additional 361 shares during the period. Asset Planning Inc purchased a new position in Sun Life Financial in the fourth quarter worth $40,000. Finally, BankPlus Trust Department acquired a new stake in Sun Life Financial in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 52.26% of the company's stock.

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.