Beutel Goodman & Co Ltd. Has $313.66 Million Stake in Sun Life Financial Inc. (NYSE:SLF)

Beutel Goodman & Co Ltd. decreased its position in Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 39.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,285,394 shares of the financial services provider’s stock after selling 3,464,639 shares during the quarter. Sun Life Financial comprises 1.7% of Beutel Goodman & Co Ltd.’s investment portfolio, making the stock its 28th largest holding. Beutel Goodman & Co Ltd. owned 0.84% of Sun Life Financial worth $313,661,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Sun Life Financial during the 4th quarter worth $382,176,000. Intact Investment Management Inc. boosted its holdings in Sun Life Financial by 295.5% in the fourth quarter. Intact Investment Management Inc. now owns 1,911,027 shares of the financial services provider’s stock worth $113,453,000 after purchasing an additional 1,427,815 shares in the last quarter. National Bank of Canada FI increased its position in Sun Life Financial by 28.2% during the third quarter. National Bank of Canada FI now owns 5,837,298 shares of the financial services provider’s stock worth $338,621,000 after buying an additional 1,284,556 shares during the last quarter. CIBC Asset Management Inc raised its holdings in Sun Life Financial by 10.8% during the fourth quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider’s stock valued at $427,712,000 after buying an additional 703,391 shares in the last quarter. Finally, Mufg Securities Canada LTD. lifted its position in shares of Sun Life Financial by 71.5% in the fourth quarter. Mufg Securities Canada LTD. now owns 879,349 shares of the financial services provider’s stock worth $52,178,000 after buying an additional 366,546 shares during the last quarter. Institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

NYSE SLF opened at $56.64 on Friday. The stock has a market capitalization of $32.33 billion, a PE ratio of 14.75, a P/E/G ratio of 1.52 and a beta of 1.04. The stock has a 50-day simple moving average of $56.69 and a 200 day simple moving average of $57.94. Sun Life Financial Inc. has a twelve month low of $46.41 and a twelve month high of $62.85.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings data 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 return on equity of 16.86% and a net margin of 8.08%. As a group, equities research analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be issued a dividend of $0.5876 per share. The ex-dividend date is Wednesday, February 26th. This represents a $2.35 annualized dividend and a dividend yield of 4.15%. Sun Life Financial’s payout ratio is 60.16%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SLF shares. StockNews.com lowered Sun Life Financial from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Cormark upgraded Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Finally, National Bank Financial upgraded shares of Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research note on Wednesday, January 15th. Two investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

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.