Sun Life Financial Inc. $SLF Stock: Letko Brosseau & Associates Inc. Trims Holdings

Letko Brosseau & Associates Inc. trimmed its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.6% in the third quarter, Holdings Channel.com reports. The fund owned 3,092,877 shares of the financial services provider’s stock after selling 51,550 shares during the period. Sun Life Financial makes up about 3.1% of Letko Brosseau & Associates Inc.’s holdings, making the stock its 5th largest holding. Letko Brosseau & Associates Inc.’s holdings in Sun Life Financial were worth $241,635,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new stake in shares of Sun Life Financial in the 1st quarter worth approximately $25,000. First Bancorp Inc ME acquired a new position in Sun Life Financial during the second quarter worth $35,000. Scarborough Advisors LLC acquired a new position in Sun Life Financial during the first quarter worth $33,000. Capital Analysts LLC purchased a new stake in Sun Life Financial during the second quarter worth $58,000. Finally, Danske Bank A S purchased a new stake in Sun Life Financial during the second quarter worth $79,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Price Performance

Shares of SLF opened at $72.91 on Friday. Sun Life Financial Inc. has a 1-year low of $57.22 and a 1-year high of $84.38. The stock has a market cap of $40.49 billion, a price-to-earnings ratio of 12.90, a price-to-earnings-growth ratio of 1.93 and a beta of 0.86. The firm has a 50 day simple moving average of $78.75 and a 200-day simple moving average of $73.89.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its earnings results on Wednesday, November 4th. The financial services provider reported $1.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.02. The firm had revenue of $986.89 million for the quarter, compared to analyst estimates of $986.89 million. Sun Life Financial had a return on equity of 18.21% and a net margin of 8.62%. On average, equities analysts expect that Sun Life Financial Inc. will post 5.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SLF shares. UBS Group reissued a “neutral” rating on shares of Sun Life Financial in a report on Wednesday, September 2nd. Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a research note on Wednesday, October 7th. Wall Street Zen raised Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. TD Securities lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 5th. Finally, Scotiabank raised shares of Sun Life Financial from a “sector perform” rating to a “sector outperform” rating in a research note on Tuesday, October 27th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $103.50.

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.