133,257 Sun Life Financial Inc. $SLF Shares Sold by Beutel Goodman & Co Ltd.

Beutel Goodman & Co Ltd. lowered its holdings in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,610,200 shares of the financial services provider’s stock after selling 133,257 shares during the period. Beutel Goodman & Co Ltd.’s holdings in Sun Life Financial were worth $125,799,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. purchased a new stake in Sun Life Financial in the 2nd quarter worth about $81,587,000. Plato Investment Management Ltd acquired a new stake in Sun Life Financial during the 2nd quarter worth about $2,888,000. Korea Investment CORP purchased a new position in Sun Life Financial during the 2nd quarter valued at about $35,531,000. Osmosis Investment Management UK Ltd purchased a new position in Sun Life Financial during the 2nd quarter valued at about $1,637,000. Finally, Polar Asset Management Partners Inc. purchased a new position in Sun Life Financial during the 2nd quarter valued at about $78,481,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SLF shares. Wall Street Zen raised shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research report on Sunday, July 26th. National Bank Financial downgraded shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research report on Thursday, November 5th. Argus boosted their price objective 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. Weiss Ratings upgraded shares of Sun Life Financial from a “buy (a-)” rating to a “buy (a)” rating in a research report on Thursday, October 29th. Finally, Evercore downgraded shares of Sun Life Financial from an “outperform” rating to an “in-line” rating in a research report on Monday, July 13th. One 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 given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $103.50.

Sun Life Financial Trading Up 3.2%

Shares of NYSE:SLF opened at $73.83 on Tuesday. The firm has a market cap of $41.00 billion, a price-to-earnings ratio of 14.33, a P/E/G 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. The business has a fifty day simple moving average of $79.07 and a 200 day simple moving average of $73.74.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results 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 return on equity of 18.76% and a net margin of 8.62%. The firm had revenue of $986.89 million for the quarter, compared to the consensus estimate of $986.89 million. On average, sell-side analysts forecast that Sun Life Financial Inc. will post 5.47 EPS for the current year.

Sun Life Financial Profile

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.