Beutel Goodman & Co Ltd. Lowers Stake in Sun Life Financial Inc. (NYSE:SLF)

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

Several other institutional investors have also added to or reduced their stakes in the business. Human Investing LLC purchased a new stake in Sun Life Financial during the 4th quarter worth about $26,000. Asset Planning Inc bought a new position in shares of Sun Life Financial during the fourth quarter valued at about $40,000. BankPlus Trust Department purchased a new stake in shares of Sun Life Financial during the fourth quarter valued at approximately $40,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Sun Life Financial in the fourth quarter valued at about $45,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Sun Life Financial in the 3rd quarter worth approximately $51,000. 52.26% of the stock is owned by hedge funds and other institutional investors.

Sun Life Financial Stock Up 1.1 %

Sun Life Financial stock traded up $0.63 during mid-day trading on Monday, reaching $57.27. 419,621 shares of the company's stock traded hands, compared to its average volume of 685,259. The stock has a 50 day moving average of $56.69 and a two-hundred day moving average of $57.98. Sun Life Financial Inc. has a 12-month low of $46.41 and a 12-month high of $62.85. The company has a market cap of $32.69 billion, a price-to-earnings ratio of 14.91, a PEG ratio of 1.52 and a beta of 1.04.

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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 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.30. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. As a group, sell-side analysts forecast that Sun Life Financial Inc. will post 5.19 earnings per share for the current year.

Sun Life Financial Cuts Dividend

The company also recently announced 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. This represents a $2.35 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial's dividend payout ratio is 60.16%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on SLF shares. 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. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Finally, StockNews.com downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

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.