Sun Life Financial (NYSE:SLF) Sets New 1-Year High - What's Next?

Key Points

• Sun Life shares hit a new 52-week high, trading as high as $74.16 (last at $73.02) on volume of 791,191 shares.
• Analysts have a consensus rating of Moderate Buy with an average price target of $86.50, based on a mix of Buy/Hold/Sell opinions.
• The company beat quarterly EPS estimates ($1.41 vs. $1.35) and pays a quarterly dividend of $0.92 (annualized yield ~5.0%, payout ratio 61.36%).

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF shares reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $74.16 and last traded at $73.02, with a volume of 791191 shares. The stock had previously closed at $73.21.

Analysts Set New Price Targets

A number of research firms have issued reports on SLF. Royal Bank Of Canada reaffirmed a "sector perform" rating on shares of Sun Life Financial in a report on Friday, February 13th. Scotiabank reissued a "sector perform" rating on shares of Sun Life Financial in a report on Wednesday, April 29th. Wall Street Zen downgraded shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. TD Securities reissued a "buy" rating on shares of Sun Life Financial in a report on Thursday, February 12th. Finally, BMO Capital Markets reissued an "outperform" rating on shares of Sun Life Financial in a report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $86.50.

Sun Life Financial Trading Down 0.3%

The stock's fifty day moving average is $65.92 and its two-hundred day moving average is $63.28. The company has a market capitalization of $40.45 billion, a PE ratio of 16.60 and a beta of 0.91.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last issued its quarterly earnings results on Wednesday, February 11th. The financial services provider reported $1.41 earnings per share for the quarter, topping analysts' consensus estimates of $1.35 by $0.06. The company had revenue of $973.53 million for the quarter, compared to the consensus estimate of $973.53 million. Sun Life Financial had a net margin of 8.48% and a return on equity of 17.76%. During the same period in the previous year, the firm earned $1.68 EPS. As a group, analysts anticipate that Sun Life Financial Inc. will post 5.7 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th were issued a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $3.68 annualized dividend and a yield of 5.0%. Sun Life Financial's dividend payout ratio is 61.36%.

Institutional Investors Weigh In On Sun Life Financial

Several institutional investors have recently added to or reduced their stakes in the business. Louisbourg Investments Inc. lifted its holdings in Sun Life Financial by 3.0% during the first quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider's stock valued at $319,000 after purchasing an additional 150 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in Sun Life Financial by 68.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. Candriam S.C.A. lifted its holdings in Sun Life Financial by 1.8% during the first quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider's stock valued at $612,000 after purchasing an additional 177 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in Sun Life Financial by 16.7% during the third quarter. Farther Finance Advisors LLC now owns 1,302 shares of the financial services provider's stock valued at $78,000 after purchasing an additional 186 shares during the last quarter. Finally, HB Wealth Management LLC lifted its holdings in Sun Life Financial by 4.7% during the first quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider's stock valued at $260,000 after purchasing an additional 187 shares during the last quarter. 52.26% of the stock is owned by hedge funds and other institutional investors.

About Sun Life Financial

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.

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