Sun Life Financial (NYSE:SLF) Sets New 12-Month High - Should You Buy?

Shares of Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF hit a new 52-week high during trading on Wednesday . The stock traded as high as $63.78 and last traded at $63.45, with a volume of 337417 shares changing hands. The stock had previously closed at $63.20.

Analysts Set New Price Targets

Several research firms have issued reports on SLF. StockNews.com lowered shares of Sun Life Financial from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Royal Bank of Canada increased their price objective on shares of Sun Life Financial from $82.00 to $88.00 and gave the stock an "outperform" rating in a research report on Monday, May 12th. BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a report on Monday, May 12th. Scotiabank reaffirmed an "outperform" rating on shares of Sun Life Financial in a research report on Thursday, May 1st. Finally, Cormark raised Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $88.00.

Sun Life Financial Stock Performance

The firm's 50 day moving average price is $58.05 and its two-hundred day moving average price is $58.35. The company has a market cap of $35.83 billion, a P/E ratio of 16.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.90.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Thursday, May 8th. The financial services provider reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.22 by $0.05. Sun Life Financial had a net margin of 8.08% and a return on equity of 16.86%. The business had revenue of $7.91 billion during the quarter, compared to analysts' expectations of $6.44 billion. During the same period last year, the company posted $1.40 earnings per share. As a group, analysts forecast that Sun Life Financial Inc. will post 5.19 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Wednesday, May 28th will be given a $0.6332 dividend. This represents a $2.53 dividend on an annualized basis and a yield of 3.99%. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.59. The ex-dividend date is Wednesday, May 28th. Sun Life Financial's payout ratio is presently 62.09%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Sun Life Financial by 1.5% during the first quarter. Vanguard Group Inc. now owns 24,595,092 shares of the financial services provider's stock valued at $1,407,626,000 after acquiring an additional 361,596 shares in the last quarter. TD Asset Management Inc increased its stake in Sun Life Financial by 2.4% during the 1st quarter. TD Asset Management Inc now owns 16,100,340 shares of the financial services provider's stock valued at $921,330,000 after purchasing an additional 374,682 shares in the last quarter. 1832 Asset Management L.P. raised its holdings in Sun Life Financial by 8.9% during the first quarter. 1832 Asset Management L.P. now owns 10,338,250 shares of the financial services provider's stock worth $591,968,000 after buying an additional 846,735 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Sun Life Financial by 2.1% during the fourth quarter. The Manufacturers Life Insurance Company now owns 9,454,589 shares of the financial services provider's stock worth $562,121,000 after buying an additional 198,205 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Sun Life Financial by 10.8% in the fourth quarter. CIBC Asset Management Inc now owns 7,192,059 shares of the financial services provider's stock valued at $427,712,000 after buying an additional 703,391 shares in the last quarter. Institutional investors 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.

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