Sun Life Financial (TSE:SLF) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Sun Life Financial shares have crossed above their 200-day moving average of C$83.57, indicating a potential bullish trend.
• Analysts have reduced price targets for the stock, with Royal Bank of Canada lowering its target from C$88.00 to C$84.00, while Barclays upgraded its rating to a "strong sell."
• The company's recent quarterly dividend of $0.88 per share reflects a yield of 4.2% and a payout ratio of 59.75%.

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of C$83.57 and traded as high as C$83.76. Sun Life Financial shares last traded at C$83.57, with a volume of 1,313,526 shares changing hands.

Analysts Set New Price Targets

A number of analysts have recently issued reports on SLF shares. Royal Bank Of Canada reduced their target price on Sun Life Financial from C$88.00 to C$84.00 in a report on Monday, August 11th. National Bankshares lowered Sun Life Financial from an "outperform" rating to a "sector perform" rating and cut their price objective for the stock from C$93.00 to C$87.00 in a report on Friday, August 8th. National Bank Financial lowered Sun Life Financial from a "strong-buy" rating to a "hold" rating in a report on Thursday, August 7th. Desjardins cut their price objective on Sun Life Financial from C$95.00 to C$90.00 and set a "buy" rating for the company in a report on Monday, August 11th. Finally, Barclays lowered Sun Life Financial from a "hold" rating to a "strong sell" rating in a report on Monday, July 7th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sun Life Financial presently has a consensus rating of "Moderate Buy" and an average price target of C$86.67.

Sun Life Financial Trading Up 1.1%

The company has a fifty day simple moving average of C$81.87 and a two-hundred day simple moving average of C$83.57. 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 company has a market capitalization of C$46.84 billion, a P/E ratio of 14.82, a price-to-earnings-growth ratio of 1.33 and a beta of 0.87.

Sun Life Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 29th. Shareholders of record on Monday, September 29th were issued a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 4.2%. The ex-dividend date was Wednesday, August 27th. Sun Life Financial's dividend payout ratio (DPR) is 59.75%.

Insiders Place Their Bets

In related news, insider Thomas Murphy bought 3,389 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were bought at an average cost of C$79.37 per share, for a total transaction of C$268,973.75. Following the completion of the acquisition, the insider directly owned 3,389 shares in the company, valued at approximately C$268,973.75. This represents a ∞ increase in their ownership of the stock. Insiders bought 4,262 shares of company stock worth $338,105 in the last 90 days. 0.03% of the stock is owned by company insiders.

About Sun Life Financial

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.

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