Sun Life Financial Inc. $SLF Stock Sold by Beutel Goodman & Co Ltd.

Key Points

• Beutel Goodman cut its Sun Life Financial stake by 7.6% in the third quarter, selling 133,257 shares; it retained 1.61 million shares valued at about $125.8 million.
• Sun Life reported quarterly EPS of $1.47, beating analyst expectations of $1.45; revenue of $986.89 million matched estimates.
• Analysts’ average rating is Hold, with an average price target of $103.50. Institutional investors own 52.26% of the stock.

Beutel Goodman & Co Ltd. reduced its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 7.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,610,200 shares of the financial services provider's stock after selling 133,257 shares during the period. Beutel Goodman & Co Ltd. owned approximately 0.29% of Sun Life Financial worth $125,799,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of Nova Scotia acquired a new stake in Sun Life Financial in the 2nd quarter valued at about $544,052,000. The Manufacturers Life Insurance Company bought a new position in shares of Sun Life Financial during the 2nd quarter valued at about $293,050,000. Canada Pension Plan Investment Board acquired a new position in shares of Sun Life Financial in the 2nd quarter worth approximately $292,980,000. Legal & General Group Plc acquired a new position in shares of Sun Life Financial in the 2nd quarter worth approximately $280,312,000. Finally, Wellington Management Group LLP bought a new stake in shares of Sun Life Financial in the 2nd quarter worth approximately $220,567,000. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Trading Up 3.2%

NYSE SLF opened at $73.83 on Tuesday. The stock's 50-day moving average price is $79.07 and its two-hundred day moving average price is $73.74. The company has a market cap of $41.00 billion, a PE ratio of 14.33, a PEG ratio of 2.03 and a beta of 0.86. Sun Life Financial Inc. has a 1 year low of $57.22 and a 1 year high of $84.38.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Wednesday, November 4th. The financial services provider reported $1.47 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.02. Sun Life Financial had a net margin of 8.62% and a return on equity of 18.76%. The company had revenue of $986.89 million during the quarter, compared to analyst estimates of $986.89 million. Research analysts forecast that Sun Life Financial Inc. will post 5.47 EPS for the current fiscal year.

Analyst Ratings Changes

SLF has been the subject of a number of research reports. Scotiabank upgraded shares of Sun Life Financial from a "sector perform" rating to a "sector outperform" rating in a report on Tuesday, October 27th. Evercore cut Sun Life Financial from an "outperform" rating to an "in-line" rating in a report on Monday, July 13th. Royal Bank Of Canada increased their price objective on Sun Life Financial from $98.00 to $119.00 and gave the company a "sector perform" rating in a research report on Monday, August 10th. UBS Group reiterated a "neutral" rating on shares of Sun Life Financial in a research report on Wednesday, September 2nd. Finally, TD Securities lowered Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, November 5th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $103.50.

About Sun Life Financial

Sun Life Financial Inc is a Canadian financial services company that provides insurance, wealth management and asset management services. Founded in 1865 as Sun Life Assurance Company of Canada, it has grown into an international business serving individual, workplace and institutional clients.

The company offers life, health and dental insurance, disability coverage and group benefits, as well as savings, retirement and investment products. Its asset management businesses provide investment management services to individuals and institutions.

Sun Life serves clients in Canada, the United States and markets across Asia, and its asset management operations have a global reach.

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