Sun Life Financial (NYSE:SLF) Reaches New 1-Year High – Should You Buy?

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) shares reached a new 52-week high during trading on Monday . The stock traded as high as $59.82 and last traded at $59.80, with a volume of 16964 shares traded. The stock had previously closed at $59.23.

Analysts Set New Price Targets

SLF has been the topic of a number of recent research reports. Barclays began coverage on shares of Sun Life Financial in a research note on Thursday, September 5th. They set an “equal weight” rating on the stock. StockNews.com raised Sun Life Financial from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th.

Sun Life Financial Stock Performance

The company has a market capitalization of $37.71 billion, a price-to-earnings ratio of 13.33, a P/E/G ratio of 1.53 and a beta of 1.01. The stock’s 50-day moving average price is $56.92 and its 200-day moving average price is $52.66.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.18 by $0.07. The company had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.72 billion. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. Analysts anticipate that Sun Life Financial Inc. will post 4.85 earnings per share for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be issued a $0.621 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $2.48 dividend on an annualized basis and a yield of 4.15%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.59. Sun Life Financial’s payout ratio is currently 52.34%.

Institutional Trading of Sun Life Financial

Institutional investors and hedge funds have recently bought and sold shares of the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of Sun Life Financial by 3.8% during the first quarter. CANADA LIFE ASSURANCE Co now owns 630,708 shares of the financial services provider’s stock valued at $34,474,000 after purchasing an additional 23,235 shares during the period. Cetera Investment Advisers boosted its holdings in shares of Sun Life Financial by 108.3% during the first quarter. Cetera Investment Advisers now owns 64,240 shares of the financial services provider’s stock worth $3,506,000 after purchasing an additional 33,401 shares during the period. Twin Tree Management LP grew its holdings in shares of Sun Life Financial by 249.8% during the 1st quarter. Twin Tree Management LP now owns 274,119 shares of the financial services provider’s stock valued at $14,961,000 after acquiring an additional 195,745 shares in the last quarter. Tyler Stone Wealth Management increased its position in Sun Life Financial by 100.0% in the 3rd quarter. Tyler Stone Wealth Management now owns 17,454 shares of the financial services provider’s stock worth $1,013,000 after purchasing an additional 8,727 shares during the last quarter. Finally, Bessemer Group Inc. raised its position in Sun Life Financial by 845.9% during the first quarter. Bessemer Group Inc. now owns 20,478 shares of the financial services provider’s stock valued at $1,117,000 after acquiring an additional 18,313 shares in the last quarter. Institutional investors and hedge funds own 52.26% of the company’s stock.

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.