Sun Life Financial (TSE:SLF) Stock Passes Below 200-Day Moving Average - Time to Sell?

Key Points

• Sun Life Financial's share price has fallen below its 200-day moving average, trading at C$80.64, raising concerns among investors about its future performance.
• Analysts have mixed opinions on the stock, with target price adjustments ranging from a decrease to C$87.00 by National Bankshares, while TD Securities raised their target to C$86.00.
• The company recently announced a quarterly dividend of $0.88 per share, which offers an annualized yield of 4.4%.

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF's share price passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$83.36 and traded as low as C$80.14. Sun Life Financial shares last traded at C$80.64, with a volume of 1,855,195 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SLF shares. Desjardins lowered their price objective on shares of Sun Life Financial from C$95.00 to C$90.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. National Bankshares cut shares of Sun Life Financial from an "outperform" rating to a "sector perform" rating and decreased their target price for the stock from C$93.00 to C$87.00 in a research report on Friday, August 8th. Barclays cut shares of Sun Life Financial from a "hold" rating to a "strong sell" rating in a research report on Monday, July 7th. Jefferies Financial Group decreased their target price on shares of Sun Life Financial from C$96.00 to C$90.00 in a research report on Monday, April 21st. Finally, TD Securities lifted their target price on shares of Sun Life Financial from C$83.00 to C$86.00 and gave the stock a "hold" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of C$86.67.

Sun Life Financial Price Performance

The business's 50 day moving average price is C$85.54 and its two-hundred day moving average price is C$83.36. The stock has a market cap of C$46.06 billion, a P/E ratio of 12.16, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00.

Sun Life Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Monday, September 29th will be paid a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, August 27th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.4%. Sun Life Financial's payout ratio is presently 48.87%.

Insider Activity at Sun Life Financial

In other Sun Life Financial news, Director Kevin Strain acquired 3,850 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were acquired at an average price of C$89.10 per share, with a total value of C$343,035.00. Also, Senior Officer Daniel Fishbein sold 37,662 shares of the business's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of C$87.60, for a total transaction of C$3,299,191.20. Over the last quarter, insiders sold 161,909 shares of company stock worth $14,216,427. 0.03% of the stock is currently owned by company insiders.

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.

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