Sun Life Financial (TSE:SLF) Hits New 1-Year High - Here's What Happened

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF's share price reached a new 52-week high on Friday . The stock traded as high as C$90.10 and last traded at C$89.98, with a volume of 92459 shares traded. The stock had previously closed at C$89.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SLF shares. Scotiabank reduced their price objective on shares of Sun Life Financial from C$94.00 to C$90.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st. Barclays reduced their target price on Sun Life Financial from C$87.00 to C$86.00 in a report on Friday, May 9th. CIBC dropped their price target on Sun Life Financial from C$94.00 to C$89.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Jefferies Financial Group reduced their price objective on Sun Life Financial from C$96.00 to C$90.00 in a research note on Monday, April 21st. Finally, Royal Bank Of Canada raised their target price on Sun Life Financial from C$82.00 to C$88.00 in a research report on Monday, May 12th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of C$86.89.

Sun Life Financial Stock Up 0.6%

The company has a market capitalization of C$51.30 billion, a PE ratio of 13.55, a PEG ratio of 1.33 and a beta of 0.94. The company has a debt-to-equity ratio of 26.00, a quick ratio of 84,866.00 and a current ratio of 92.19. The stock's 50 day moving average is C$86.18 and its 200 day moving average is C$83.41.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be issued a $0.88 dividend. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.84. This represents a $3.52 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Wednesday, May 28th. Sun Life Financial's dividend payout ratio (DPR) is presently 48.87%.

Insider Activity at Sun Life Financial

In other Sun Life Financial news, Senior Officer Stephen Peacher sold 80,048 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of C$87.70, for a total value of C$7,020,209.60. Also, Director Kevin Strain purchased 3,850 shares of Sun Life Financial stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of C$89.10 per share, with a total value of C$343,035.00. In the last three months, insiders have sold 188,721 shares of company stock worth $16,554,701. 0.03% of the stock is owned by company insiders.

About Sun Life Financial

Sun Life Financial is one of Canada's Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm.

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