Sun Life Financial (TSE:SLF) Sets New 1-Year High Following Dividend Announcement

Shares of Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) reached a new 52-week high during trading on Tuesday following a dividend announcement from the company. The company traded as high as C$80.82 and last traded at C$79.35, with a volume of 134964 shares traded. The stock had previously closed at C$77.45.

The newly announced dividend which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 4.23%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.81. Sun Life Financial’s payout ratio is presently 61.36%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SLF shares. Royal Bank of Canada raised their target price on Sun Life Financial from C$76.00 to C$78.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Evercore decreased their target price on shares of Sun Life Financial from C$76.00 to C$75.00 in a research note on Thursday, July 11th. National Bankshares boosted their target price on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 13th. Barclays set a C$76.00 price objective on Sun Life Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. Finally, CIBC raised their target price on Sun Life Financial from C$80.00 to C$90.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sun Life Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of C$78.82.

Sun Life Financial Stock Up 2.6 %

The business’s 50 day moving average is C$76.79 and its 200-day moving average is C$71.50. The company has a market cap of C$45.80 billion, a PE ratio of 14.67, a P/E/G ratio of 1.33 and a beta of 0.94. 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 data on Monday, August 12th. The financial services provider reported C$1.71 earnings per share (EPS) for the quarter, topping the consensus estimate 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. As a group, analysts predict that Sun Life Financial Inc. will post 6.9230769 EPS for the current year.

Insider Buying and Selling at Sun Life Financial

In other Sun Life Financial news, Director Stephanie Coyles bought 500 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 500 shares in the company, valued at approximately C$35,000. In related news, Director Stephanie Coyles purchased 500 shares of the stock in a transaction dated Thursday, August 15th. The shares were acquired at an average cost of C$70.00 per share, with a total value of C$35,000.00. Following the purchase, the director now directly owns 500 shares in the company, valued at C$35,000. Also, Senior Officer Daniel Fishbein sold 15,999 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. 0.03% of the stock is currently owned by insiders.

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.