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

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF's share price reached a new 52-week high on Monday . The stock traded as high as C$89.51 and last traded at C$89.35, with a volume of 656731 shares changing hands. The stock had previously closed at C$88.40.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Scotiabank lowered their target price 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 note on Thursday, May 1st. Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a research report on Thursday, February 13th. CIBC reduced their price target on Sun Life Financial from C$94.00 to C$89.00 and set an "outperform" rating for the company in a report on Thursday, May 1st. Barclays cut their target price on shares of Sun Life Financial from C$87.00 to C$86.00 in a research note on Friday, May 9th. Finally, Royal Bank of Canada raised their price target on shares of Sun Life Financial from C$82.00 to C$88.00 in a research report on Monday, May 12th. Two equities research 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's stock. Based on data from MarketBeat.com, Sun Life Financial has an average rating of "Moderate Buy" and a consensus price target of C$86.89.

Sun Life Financial Stock Performance

The firm has a market cap of C$51.05 billion, a price-to-earnings ratio of 13.48, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The stock has a 50-day moving average of C$83.24 and a 200-day moving average of C$83.18. 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.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 30th will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, May 28th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 3.94%. Sun Life Financial's dividend payout ratio is presently 48.87%.

Insider Buying and Selling

In other Sun Life Financial news, Senior Officer Stephen Peacher sold 80,048 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of C$87.70, for a total value of C$7,020,209.60. Also, Senior Officer Daniel Fishbein sold 37,662 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of C$87.60, for a total value of C$3,299,191.20. Over the last three months, insiders have sold 144,522 shares of company stock valued at $12,657,675. 0.03% of the stock is owned by company insiders.

Sun Life Financial Company Profile

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.