Sun Life Financial (TSE:SLF) Hits New 52-Week High at $75.23

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as C$75.23 and last traded at C$74.94, with a volume of 35216 shares. The stock had previously closed at C$75.06.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SLF shares. Jefferies Financial Group upped their target price on shares of Sun Life Financial from C$78.00 to C$81.00 and gave the stock a “buy” rating in a research note on Wednesday, August 14th. National Bankshares upped their target price on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 13th. TD Securities decreased their price objective on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Royal Bank of Canada boosted their price objective on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Evercore decreased their price objective on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of C$76.09.

Sun Life Financial Trading Up 0.3 %

The firm has a market capitalization of C$44.03 billion, a PE ratio of 14.44, a PEG ratio of 1.25 and a beta of 0.93. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. The stock’s fifty day simple moving average is C$70.36 and its 200 day simple moving average is C$70.36.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its earnings results on Monday, August 12th. The financial services provider reported C$1.71 EPS 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 business had revenue of C$8.92 billion during the quarter, compared to analysts’ expectations of C$9.18 billion. On average, sell-side analysts predict that Sun Life Financial Inc. will post 7.379822 earnings per share for the current year.

Sun Life Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th will be issued a dividend of $0.81 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $3.24 dividend on an annualized basis and a yield of 4.25%. Sun Life Financial’s dividend payout ratio is currently 61.36%.

Insider Buying and Selling at Sun Life Financial

In other news, Director Stephanie Coyles purchased 500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of C$70.00 per share, for a total transaction of C$35,000.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately C$35,000. In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. Also, Director Stephanie Coyles purchased 500 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the transaction, the director now owns 500 shares of the company’s stock, valued at C$35,000. 0.03% of the stock is owned by corporate insiders.

About Sun Life Financial

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.