Sun Life Financial (TSE:SLF) Hits New 52-Week High After Analyst Upgrade

Shares of Sun Life Financial Inc. (TSE:SLFGet Free Report) (NYSE:SLF) hit a new 52-week high on Tuesday after Scotiabank raised their price target on the stock from C$75.00 to C$76.00. The stock traded as high as C$16.77 and last traded at C$70.22, with a volume of 507252 shares. The stock had previously closed at C$69.15.

A number of other analysts also recently issued reports on the company. National Bankshares lifted their price objective on Sun Life Financial from C$71.00 to C$72.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 23rd. CIBC upgraded Sun Life Financial from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from C$73.00 to C$75.00 in a report on Wednesday, January 31st. Evercore boosted their price objective on Sun Life Financial from C$76.00 to C$78.00 and gave the company an “outperform” rating in a report on Tuesday, January 23rd. BMO Capital Markets boosted their price target on Sun Life Financial from C$70.00 to C$80.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Cormark boosted their price target on Sun Life Financial from C$72.00 to C$73.00 in a research report on Tuesday, November 14th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Sun Life Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$74.85.

Check Out Our Latest Stock Analysis on SLF

Insider Buying and Selling at Sun Life Financial

In related news, Director Kevin Strain sold 15,986 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of C$69.69, for a total value of C$1,114,000.40. In related news, Senior Officer Jacques Jr. Goulet sold 124,639 shares of Sun Life Financial stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of C$70.07, for a total value of C$8,732,956.17. Also, Director Kevin Strain sold 15,986 shares of Sun Life Financial stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of C$69.69, for a total value of C$1,114,000.40. Insiders own 0.02% of the company’s stock.

Sun Life Financial Price Performance

The stock has a market cap of C$41.24 billion, a price-to-earnings ratio of 11.21, a PEG ratio of 1.13 and a beta of 0.95. The company has a 50-day moving average of C$68.76 and a 200-day moving average of C$67.35. The company has a debt-to-equity ratio of 26.83, a quick ratio of 84,866.00 and a current ratio of 56.90.

Sun Life Financial (TSE:SLFGet Free Report) (NYSE:SLF) last issued its quarterly earnings results on Monday, November 13th. The financial services provider reported C$1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.58 by C$0.01. Sun Life Financial had a return on equity of 14.76% and a net margin of 14.28%. The firm had revenue of C$2.44 billion for the quarter. As a group, equities research analysts predict that Sun Life Financial Inc. will post 6.7398453 earnings per share for the current year.

Sun Life Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Stockholders of record on Wednesday, November 29th were paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Tuesday, November 28th. Sun Life Financial’s dividend payout ratio (DPR) is 49.60%.

Sun Life Financial Company Profile

(Get Free Report)

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.

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