Sun Life Financial (NYSE:SLF) Reaches New 52-Week High - What's Next?

Key Points

• Sun Life Financial hit a new 52-week high, trading as high as $82.25, reflecting strong recent momentum in the stock.
• Analyst views are mixed but lean positive overall, with an average rating of “Moderate Buy” and an average price target of $84.67, even as some firms maintained neutral or underweight calls.
• The company recently beat quarterly EPS estimates and raised its dividend to $0.96 per share quarterly, supporting a 4.7% annualized yield.

Shares of Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF hit a new 52-week high on Friday . The stock traded as high as $82.25 and last traded at $82.0280, with a volume of 66482 shares trading hands. The stock had previously closed at $81.41.

Analysts Set New Price Targets

SLF has been the topic of several analyst reports. Canadian Imperial Bank of Commerce reaffirmed a "neutral" rating on shares of Sun Life Financial in a research note on Friday, May 8th. Wall Street Zen cut shares of Sun Life Financial from a "hold" rating to a "sell" rating in a research report on Saturday, July 18th. Argus set a $81.00 price objective on shares of Sun Life Financial in a research report on Wednesday, June 10th. Barclays reaffirmed an "underweight" rating on shares of Sun Life Financial in a research note on Tuesday, July 7th. Finally, Scotiabank reiterated a "sector perform" rating on shares of Sun Life Financial in a report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Sun Life Financial currently has an average rating of "Moderate Buy" and an average target price of $84.67.

Sun Life Financial Stock Performance

The stock's 50-day simple moving average is $76.68 and its 200-day simple moving average is $69.47. The firm has a market capitalization of $45.85 billion, a PE ratio of 21.21 and a beta of 0.88.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings data on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, topping the consensus estimate of $1.35 by $0.03. The business had revenue of $6.41 billion during the quarter, compared to analyst estimates of $925.99 million. Sun Life Financial had a net margin of 7.85% and a return on equity of 17.80%. During the same period in the prior year, the business earned $1.82 EPS. As a group, analysts predict that Sun Life Financial Inc. will post 5.69 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Wednesday, May 27th were paid a $0.96 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a yield of 4.7%. Sun Life Financial's payout ratio is currently 72.68%.

Institutional Trading of Sun Life Financial

Large investors have recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC purchased a new position in shares of Sun Life Financial in the 1st quarter valued at approximately $25,000. Cornerstone Planning Group LLC grew its stake in Sun Life Financial by 68.4% in the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock worth $26,000 after purchasing an additional 167 shares during the period. Brown Brothers Harriman & Co. bought a new position in Sun Life Financial in the fourth quarter worth $30,000. Sittner & Nelson LLC bought a new position in Sun Life Financial in the fourth quarter worth $33,000. Finally, Scarborough Advisors LLC purchased a new position in Sun Life Financial during the first quarter valued at $33,000. 52.26% of the stock is owned by institutional investors.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.