Sun Life Financial (NYSE:SLF) Hits New 1-Year High – Still a Buy?

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) shares hit a new 52-week high during trading on Thursday . The company traded as high as $61.63 and last traded at $61.53, with a volume of 164759 shares changing hands. The stock had previously closed at $60.81.

Analyst Ratings Changes

SLF has been the topic of several recent research reports. Barclays assumed coverage on Sun Life Financial in a research note on Thursday, September 5th. They issued an “equal weight” rating on the stock. StockNews.com cut Sun Life Financial from a “buy” rating to a “hold” rating in a report on Tuesday.

Sun Life Financial Stock Down 0.3 %

The stock has a market cap of $35.22 billion, a price-to-earnings ratio of 13.63, a PEG ratio of 1.58 and a beta of 1.01. The business’s 50 day simple moving average is $57.89 and its 200 day simple moving average is $53.19.

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be given a dividend of $0.621 per share. The ex-dividend date is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. This represents a $2.48 annualized dividend and a dividend yield of 4.06%. Sun Life Financial’s payout ratio is currently 52.34%.

Institutional Investors Weigh In On Sun Life Financial

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its stake in shares of Sun Life Financial by 6,244.4% in the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after buying an additional 562 shares in the last quarter. Assetmark Inc. boosted its stake in Sun Life Financial by 2,747.4% in the 3rd quarter. Assetmark Inc. now owns 541 shares of the financial services provider’s stock worth $31,000 after buying an additional 522 shares during the last quarter. Addison Advisors LLC raised its stake in shares of Sun Life Financial by 124.9% in the 3rd quarter. Addison Advisors LLC now owns 650 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 361 shares during the period. Ridgewood Investments LLC acquired a new stake in Sun Life Financial during the second quarter valued at approximately $39,000. Finally, Clean Yield Group acquired a new position in Sun Life Financial during the 3rd quarter worth $39,000. 52.26% of the stock is currently owned by hedge funds and other institutional investors.

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.