Sun Life Financial (TSE:SLF) Sets New 1-Year High After Analyst Upgrade

Key Points

• Shares hit a new 52-week high after TD raised its price target on Sun Life from C$102 to C$107 and kept a buy rating.
• Multiple analysts also raised targets (National Bank to C$109, Jefferies to C$115), leaving a consensus rating of Moderate Buy with an average price target of C$100.40.
• Sun Life reported Q EPS of C$1.89 on C$8.73B revenue, has a market cap of C$52.51B and a P/E of 15.41, and pays an annualized dividend of C$3.68 (≈3.9% yield, 57% payout ratio).

Shares of Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF reached a new 52-week high during mid-day trading on Thursday after TD raised their price target on the stock from C$102.00 to C$107.00. TD currently has a buy rating on the stock. Sun Life Financial traded as high as C$20.00 and last traded at C$95.69, with a volume of 1029130 shares. The stock had previously closed at C$99.53.

Other equities research analysts also recently issued reports about the company. National Bank Financial upgraded Sun Life Financial from a "sector perform" rating to an "outperform" rating and set a C$109.00 price objective on the stock in a report on Friday, April 24th. Jefferies Financial Group lifted their price objective on Sun Life Financial from C$103.00 to C$115.00 in a report on Friday, May 1st. Royal Bank Of Canada lifted their price objective on Sun Life Financial from C$83.00 to C$95.00 and gave the stock a "sector perform" rating in a report on Friday, February 13th. Scotiabank lifted their price objective on Sun Life Financial from C$93.00 to C$96.00 and gave the stock a "sector perform" rating in a report on Friday, February 13th. Finally, TD Securities dropped their price objective on Sun Life Financial from C$104.00 to C$102.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of C$100.40.

Sun Life Financial Stock Down 4.8%

The company has a debt-to-equity ratio of 74.49, a quick ratio of 84,866.00 and a current ratio of 2.78. The firm has a market capitalization of C$52.51 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.33 and a beta of 0.73. The stock has a fifty day moving average price of C$90.50 and a two-hundred day moving average price of C$87.33.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share for the quarter. Sun Life Financial had a return on equity of 14.68% and a net margin of 9.74%.The business had revenue of C$8.73 billion during the quarter. Research analysts forecast that Sun Life Financial Inc. will post 6.9230769 EPS for the current year.

Sun Life Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Tuesday, March 31st were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Wednesday, February 25th. Sun Life Financial's payout ratio is 57.24%.

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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