Sun Life Financial (TSE:SLF) Share Price Crosses Above 200 Day Moving Average - Here's Why

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF's stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$81.72 and traded as high as C$82.85. Sun Life Financial shares last traded at C$82.36, with a volume of 1,844,626 shares trading hands.

Wall Street Analysts Forecast Growth

SLF has been the subject of a number of recent analyst reports. National Bank Financial upgraded Sun Life Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. National Bankshares cut their price target on Sun Life Financial from C$95.00 to C$93.00 and set an "outperform" rating for the company in a report on Thursday, February 13th. Royal Bank of Canada set a C$82.00 price objective on shares of Sun Life Financial and gave the company an "outperform" rating in a report on Monday, March 17th. Barclays increased their price objective on shares of Sun Life Financial from C$82.00 to C$87.00 in a research report on Monday, January 6th. Finally, Cormark raised shares of Sun Life Financial from a "hold" rating to a "moderate buy" rating in a report on Thursday, February 13th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of C$87.00.

Sun Life Financial Price Performance

The company has a quick ratio of 84,866.00, a current ratio of 92.19 and a debt-to-equity ratio of 26.00. The company has a market capitalization of C$44.30 billion, a P/E ratio of 11.70, a PEG ratio of 1.33 and a beta of 0.94. The company's fifty day moving average price is C$81.01 and its 200 day moving average price is C$81.90.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Monday, March 31st were given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.33%. The ex-dividend date of this dividend was Wednesday, February 26th. Sun Life Financial's payout ratio is currently 48.87%.

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.