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

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$89.08 and last traded at C$88.91, with a volume of 4862332 shares changing hands. The stock had previously closed at C$87.60.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. 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. National Bankshares lowered their target price on shares of Sun Life Financial from C$95.00 to C$93.00 and set an "outperform" rating for the company in a research note on Thursday, February 13th. Barclays dropped their price objective on Sun Life Financial from C$87.00 to C$86.00 in a research report on Friday, May 9th. TD Securities raised their price target on Sun Life Financial from C$83.00 to C$86.00 and gave the stock a "hold" rating in a report on Friday, May 9th. Finally, Scotiabank reduced their price objective on 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. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of C$86.89.

Sun Life Financial Stock Performance

The firm has a market cap of C$50.98 billion, a PE ratio of 13.46, a P/E/G ratio of 1.33 and a beta of 0.94. The company has a debt-to-equity ratio of 26.00, a current ratio of 92.19 and a quick ratio of 84,866.00. The stock has a 50-day moving average price of C$82.65 and a 200 day moving average price of C$83.06.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Monday, June 30th will be paid a $0.88 dividend. This is a boost from Sun Life Financial's previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, May 28th. This represents a $3.52 annualized dividend and a dividend yield of 3.94%. Sun Life Financial's payout ratio is 48.87%.

Insider Activity

In other Sun Life Financial news, Senior Officer Stephen Peacher sold 80,048 shares of the company's stock in a transaction dated 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 Jacques Jr. Goulet sold 26,812 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of C$87.21, for a total value of C$2,338,274.52. Over the last ninety days, insiders sold 144,522 shares of company stock valued at $12,657,675. 0.03% of the stock is currently owned by 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.