Beutel Goodman & Co Ltd. Sells 3,464,639 Shares of Sun Life Financial Inc. (NYSE:SLF)

Beutel Goodman & Co Ltd. trimmed its position in shares of Sun Life Financial Inc. (NYSE:SLF - Free Report) TSE: SLF by 39.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,285,394 shares of the financial services provider's stock after selling 3,464,639 shares during the period. Sun Life Financial makes up 1.7% of Beutel Goodman & Co Ltd.'s portfolio, making the stock its 28th biggest holding. Beutel Goodman & Co Ltd. owned approximately 0.84% of Sun Life Financial worth $313,661,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new stake in Sun Life Financial in the 4th quarter valued at $382,176,000. Intact Investment Management Inc. lifted its holdings in Sun Life Financial by 295.5% during the 4th quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider's stock worth $113,453,000 after buying an additional 1,427,815 shares in the last quarter. National Bank of Canada FI boosted its holdings 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 acquiring an additional 1,284,556 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Sun Life Financial by 10.8% during the 4th quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider's stock worth $427,712,000 after acquiring an additional 703,391 shares during the period. Finally, Mufg Securities Canada LTD. grew its stake in shares of Sun Life Financial by 71.5% during the fourth quarter. Mufg Securities Canada LTD. now owns 879,349 shares of the financial services provider's stock worth $52,178,000 after purchasing an additional 366,546 shares during the period. Institutional investors and hedge funds own 52.26% of the company's stock.

Wall Street Analyst Weigh In

SLF has been the topic of several research analyst reports. StockNews.com downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Cormark upgraded shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research note on Thursday, February 13th. Finally, National Bank Financial raised Sun Life Financial from a "sector perform" rating to an "outperform" rating in a report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Sun Life Financial currently has a consensus rating of "Moderate Buy".

Sun Life Financial Price Performance

SLF stock traded up $0.23 during trading on Wednesday, reaching $58.32. 83,898 shares of the company were exchanged, compared to its average volume of 681,562. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85. The company has a market capitalization of $33.29 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 1.52 and a beta of 1.04. The company has a 50-day moving average of $56.64 and a two-hundred day moving average of $58.00.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last announced its earnings results on Wednesday, February 12th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $0.90 by $0.30. Sun Life Financial had a return on equity of 16.86% and a net margin of 8.08%. On average, analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current year.

Sun Life Financial Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th were given a dividend of $0.5876 per share. This represents a $2.35 dividend on an annualized basis and a dividend yield of 4.03%. The ex-dividend date was Wednesday, February 26th. Sun Life Financial's payout ratio is 60.16%.

Sun Life Financial 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.