Sun Life Financial (TSE:SLF) Sets New 52-Week High – Here’s Why

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) shares hit a new 52-week high during trading on Friday . The stock traded as high as C$79.05 and last traded at C$78.97, with a volume of 34994 shares traded. The stock had previously closed at C$78.09.

Analyst Upgrades and Downgrades

SLF has been the subject of several analyst reports. Jefferies Financial Group raised their price target on shares of Sun Life Financial from C$78.00 to C$81.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Evercore dropped their target price on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Royal Bank of Canada increased their price target on Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Barclays set a C$76.00 price objective on Sun Life Financial and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Finally, National Bankshares upped their target price on Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$76.09.

Sun Life Financial Price Performance

The firm has a market cap of C$45.62 billion, a P/E ratio of 14.79, a P/E/G ratio of 1.25 and a beta of 0.93. The company has a fifty day moving average of C$72.75 and a 200-day moving average of C$70.71. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings results on Monday, August 12th. The financial services provider reported C$1.71 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.58 by C$0.13. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. The company had revenue of C$8.92 billion for the quarter, compared to analyst estimates of C$9.18 billion. On average, sell-side analysts anticipate that Sun Life Financial Inc. will post 7.3314607 EPS for the current fiscal year.

Sun Life Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $3.24 annualized dividend and a yield of 4.10%. Sun Life Financial’s payout ratio is currently 61.36%.

Insiders Place Their Bets

In other news, Director Stephanie Coyles acquired 500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of C$70.00 per share, for a total transaction of C$35,000.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at C$35,000. In other news, Director Stephanie Coyles acquired 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of C$70.00 per share, for a total transaction of C$35,000.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at approximately C$35,000. Also, Senior Officer Daniel Fishbein sold 15,999 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. Insiders own 0.03% of the company’s stock.

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.