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

Key Points

• Sun Life Financial stock hit a new 52-week high, trading as high as $72.06 (last around $71.45) with a market cap of about $39.5 billion, a PE of 16.18, and its 50‑ and 200‑day moving averages at $65.29 and $62.86 respectively.
• The company pays a quarterly dividend of $0.92 (annualized $3.68), representing a 5.2% yield and a payout ratio of about 61.4%, making income appeal a notable factor for investors.
• Analysts have a consensus rating of “Moderate Buy” with a $86.50 price target, while recent results showed a slight EPS beat ($1.41 vs. $1.35) and large institutional buying (e.g., Norges Bank, Morgan Stanley) signaling continued investor interest.

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF's stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $72.06 and last traded at $71.4480, with a volume of 598728 shares. The stock had previously closed at $71.53.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Wall Street Zen downgraded Sun Life Financial from a "buy" rating to a "hold" rating in a report on Sunday, March 8th. Royal Bank Of Canada reissued a "sector perform" rating on shares of Sun Life Financial in a report on Friday, February 13th. TD Securities reissued a "buy" rating on shares of Sun Life Financial in a report on Thursday, February 12th. Barclays reissued an "underweight" rating on shares of Sun Life Financial in a report on Thursday, January 8th. Finally, Scotiabank reissued a "sector perform" rating on shares of Sun Life Financial in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $86.50.

Sun Life Financial Trading Down 0.4%

The company has a 50 day simple moving average of $65.29 and a 200 day simple moving average of $62.86. The stock has a market capitalization of $39.47 billion, a PE ratio of 16.18 and a beta of 0.87.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.35 by $0.06. The firm had revenue of $973.53 million during the quarter, compared to the consensus estimate of $973.53 million. Sun Life Financial had a return on equity of 17.76% and a net margin of 8.48%.During the same period in the prior year, the business earned $1.68 EPS. On average, equities research analysts predict that Sun Life Financial Inc. will post 5.7 EPS for the current year.

Sun Life Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, February 25th were paid 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 5.2%. Sun Life Financial's dividend payout ratio is currently 61.36%.

Institutional Trading of Sun Life Financial

Several institutional investors and hedge funds have recently added to or reduced their stakes in SLF. Norges Bank purchased a new stake in Sun Life Financial during the 4th quarter valued at approximately $398,037,000. Morgan Stanley raised its stake in shares of Sun Life Financial by 86.6% during the 4th quarter. Morgan Stanley now owns 3,952,646 shares of the financial services provider's stock worth $246,645,000 after buying an additional 1,834,772 shares in the last quarter. Bank of Nova Scotia raised its stake in shares of Sun Life Financial by 27.1% during the 4th quarter. Bank of Nova Scotia now owns 5,991,249 shares of the financial services provider's stock worth $373,984,000 after buying an additional 1,277,583 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Sun Life Financial by 123.4% during the 4th quarter. Wellington Management Group LLP now owns 2,245,209 shares of the financial services provider's stock worth $140,339,000 after buying an additional 1,240,241 shares in the last quarter. Finally, Alberta Investment Management Corp purchased a new position in shares of Sun Life Financial during the 4th quarter worth approximately $57,893,000. 52.26% of the stock is owned by hedge funds and other 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.

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