Sun Life Financial (TSE:SLF) Reaches New 52-Week High - Should You Buy?

Key Points

• Sun Life Financial reached a new 52-week high, with shares trading as high as C$20.75 according to the article, while the latest quoted price was C$114.72. The stock has a C$63.49 billion market capitalization and trades at a 21.33 price-to-earnings ratio.
• Analyst sentiment is broadly positive, with a consensus rating of “Moderate Buy” and an average price target of C$109.36. Recent targets range from C$101 to C$125, although Evercore downgraded the stock to “hold.”
• Sun Life increased its quarterly dividend to $0.96, or $3.84 annually, producing a 3.4% yield; its payout ratio is 67.04%. The company reported C$1.89 in quarterly earnings per share and C$8.73 billion in revenue.

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF's share price reached a new 52-week high during trading on Wednesday . The company traded as high as C$20.75 and last traded at C$114.72, with a volume of 936568 shares changing hands. The stock had previously closed at C$115.73.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Desjardins set a C$101.00 price target on Sun Life Financial and gave the company a "buy" rating in a research note on Friday, April 17th. Evercore cut shares of Sun Life Financial from an "outperform" rating to a "hold" rating and set a C$111.00 price target on the stock. in a research note on Monday, July 13th. Scotiabank upped their price objective on Sun Life Financial from C$98.00 to C$111.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 15th. Canadian Imperial Bank of Commerce boosted their price target on Sun Life Financial from C$102.00 to C$116.00 in a report on Wednesday, July 15th. Finally, National Bank Financial raised their price objective on Sun Life Financial from C$108.00 to C$125.00 and gave the stock an "outperform" rating in a research note on Thursday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of C$109.36.

Sun Life Financial Stock Down 1.0%

The firm has a market capitalization of C$63.49 billion, a PE ratio of 21.33, a P/E/G ratio of 1.33 and a beta of 0.79. The company has a debt-to-equity ratio of 32.51, a current ratio of 6.03 and a quick ratio of 84,866.00. The company has a 50-day moving average price of C$110.07 and a 200 day moving average price of C$97.79.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last issued its earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share for the quarter. The firm had revenue of C$8.73 billion during the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.89%. Analysts forecast that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.4%. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, May 27th. Sun Life Financial's payout ratio is presently 67.04%.

Insider Buying and Selling

In other Sun Life Financial news, insider Helena Janina Pagano sold 17,283 shares of Sun Life Financial stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$101.32, for a total value of C$1,751,113.56. Following the sale, the insider owned 228 shares of the company's stock, valued at C$23,100.96. The trade was a 98.70% decrease in their position. Also, insider Linda Dougherty sold 3,500 shares of the company's stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$101.40, for a total value of C$354,900.00. Insiders sold 380,998 shares of company stock valued at $38,271,605 in the last ninety days. Company insiders own 0.03% of the company's stock.

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. Sun Life generates about a third of its profit from asset-management operations.

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