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

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

Wall Street Analysts Forecast Growth

SLF has been the subject of a number of research reports. 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 report on Tuesday, August 13th. Evercore dropped their target price on shares of Sun Life Financial from C$76.00 to C$75.00 in a research report on Thursday, July 11th. TD Securities dropped their target price on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Jefferies Financial Group increased their price objective on shares of Sun Life Financial from C$78.00 to C$81.00 and gave the company a “buy” rating in a research report on Wednesday, August 14th. Finally, Royal Bank of Canada increased 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 research report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of C$76.09.

Sun Life Financial Trading Up 0.3 %

The firm has a market cap of C$44.03 billion, a PE ratio of 14.44, a P/E/G 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 company’s 50 day moving average price is C$70.36 and its two-hundred day moving average price 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 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of C$9.18 billion. As a group, sell-side analysts forecast that Sun Life Financial Inc. will post 7.379822 EPS for the current year.

Sun Life Financial Dividend Announcement

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

Insider Activity

In other news, Director Stephanie Coyles bought 500 shares of Sun Life Financial stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the purchase, 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 Sun Life Financial stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price 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 of the company’s stock, valued at approximately C$35,000. Also, Senior Officer Linda Dougherty sold 2,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total transaction of C$150,590.00. 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.