🔴 Sun Life Financial is trading 6% down today after U.S. disability losses exceed forecasts

Sun Life Financial is trading at CA$106.77, down 6.18%, after U.S. long-term disability experience losses reached US$81 million in the quarter, versus TD Cowen’s US$20 million forecast.

• National Bank Financial cut its rating to Sector Perform from Outperform and lowered its target to C$120 from C$124; TD Cowen also downgraded the shares.
• Analysts also cited accelerated MFS outflows. The concerns followed Sun Life’s November 4 results, despite underlying EPS beating estimates.