Sun Life Financial Inc. $SLF Shares Sold by Letko Brosseau & Associates Inc.

Letko Brosseau & Associates Inc. lessened its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,092,877 shares of the financial services provider’s stock after selling 51,550 shares during the quarter. Sun Life Financial comprises approximately 3.1% of Letko Brosseau & Associates Inc.’s portfolio, making the stock its 5th biggest position. Letko Brosseau & Associates Inc. owned about 0.56% of Sun Life Financial worth $241,635,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SLF. Bank of Nova Scotia acquired a new stake in shares of Sun Life Financial during the second quarter worth $544,052,000. The Manufacturers Life Insurance Company acquired a new position in Sun Life Financial in the 2nd quarter valued at $293,050,000. Canada Pension Plan Investment Board acquired a new position in Sun Life Financial in the 2nd quarter valued at $292,980,000. Legal & General Group Plc purchased a new position in Sun Life Financial during the 2nd quarter worth $280,312,000. Finally, Wellington Management Group LLP purchased a new position in Sun Life Financial during the 2nd quarter worth $220,567,000. Hedge funds and other institutional investors own 52.26% of the company’s stock.

Sun Life Financial Stock Performance

NYSE:SLF opened at $72.91 on Friday. The stock has a fifty day moving average price of $78.75 and a two-hundred day moving average price of $73.89. The stock has a market capitalization of $40.49 billion, a price-to-earnings ratio of 12.90, a PEG ratio of 1.93 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.

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, topping the consensus estimate of $1.45 by $0.02. Sun Life Financial had a net margin of 8.62% and a return on equity of 18.21%. The company had revenue of $986.89 million for the quarter, compared to analyst estimates of $986.89 million. On average, analysts predict that Sun Life Financial Inc. will post 5.46 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SLF. Weiss Ratings raised shares of Sun Life Financial from a “buy (a-)” rating to a “buy (a)” rating in a report on Thursday, October 29th. National Bank Financial lowered shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 5th. Argus increased their price target on shares of Sun Life Financial from $81.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, September 3rd. Scotiabank upgraded shares of Sun Life Financial from a “sector perform” rating to a “sector outperform” rating in a research report on Tuesday, October 27th. Finally, Barclays reaffirmed an “underweight” rating on shares of Sun Life Financial in a report on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average 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.