Sun Life Financial (TSE:SLF) Shares Cross Above 200-Day Moving Average - Here's Why

Key Points

• Sun Life Financial shares crossed above their 200-day moving average, reaching C$112.37 and closing near C$111.95, compared with the C$99.67 long-term average.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of C$116.00; TD set the highest cited target at C$124.00.
• The company reported quarterly EPS of C$2.02 on C$9.05 billion in revenue and announced a quarterly dividend of C$0.96, representing a 3.4% annualized yield.

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of C$99.67 and traded as high as C$112.37. Sun Life Financial shares last traded at C$111.95, with a volume of 1,283,066 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on SLF shares. Canadian Imperial Bank of Commerce lifted their price target on shares of Sun Life Financial from C$102.00 to C$116.00 in a report on Wednesday, July 15th. Barclays increased their price objective on Sun Life Financial from C$96.00 to C$98.00 in a report on Friday, August 7th. Evercore cut Sun Life Financial from an "outperform" rating to a "hold" rating and set a C$111.00 price objective for the company. in a research report on Monday, July 13th. TD boosted their target price on Sun Life Financial from C$121.00 to C$124.00 and gave the stock a "buy" rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada upped their target price on Sun Life Financial from C$98.00 to C$119.00 and gave the company a "sector perform" rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of C$116.00.

Sun Life Financial Stock Down 0.0%

The company has a market capitalization of C$61.99 billion, a price-to-earnings ratio of 18.97, a PEG ratio of 1.33 and a beta of 0.80. The company has a debt-to-equity ratio of 34.34, a quick ratio of 84,866.00 and a current ratio of 27.38. The business's 50 day moving average is C$112.58 and its 200 day moving average is C$99.67.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last issued its quarterly earnings results on Thursday, August 6th. The financial services provider reported C$2.02 earnings per share (EPS) for the quarter. The business had revenue of C$9.05 billion for the quarter. Sun Life Financial had a net margin of 8.81% and a return on equity of 13.89%. Sell-side analysts anticipate that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current year.

Sun Life Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th will be given a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Wednesday, August 26th. Sun Life Financial's dividend payout ratio is presently 62.37%.

Insider Transactions at Sun Life Financial

In related news, insider Helena Janina Pagano sold 17,283 shares of the firm's stock in a transaction 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 completion of the transaction, the insider owned 228 shares in the company, valued at C$23,100.96. This trade represents a 98.70% decrease in their position. Also, insider Linda Dougherty sold 3,500 shares of Sun Life Financial stock in a transaction dated Monday, May 25th. The stock was sold at an average price of C$101.40, for a total value of C$354,900.00. Over the last 90 days, insiders have sold 216,461 shares of company stock worth $22,287,387. 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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