Sun Life Financial (TSE:SLF) Hits New 1-Year High at $77.15

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) hit a new 52-week high during trading on Wednesday . The stock traded as high as C$77.15 and last traded at C$76.89, with a volume of 320785 shares trading hands. The stock had previously closed at C$76.69.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Jefferies Financial Group boosted their target price on Sun Life Financial from C$78.00 to C$81.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. TD Securities decreased their price objective on Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Barclays set a C$76.00 target price on shares of Sun Life Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. Royal Bank of Canada lifted their price objective on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Finally, National Bankshares lifted their price objective on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$76.09.

Sun Life Financial Stock Up 0.5 %

The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29. The business’s 50 day moving average is C$70.75 and its 200 day moving average is C$70.38. The company has a market capitalization of C$44.51 billion, a price-to-earnings ratio of 14.52, a PEG ratio of 1.25 and a beta of 0.93.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.58 by C$0.13. The business had revenue of C$8.92 billion during the quarter, compared to analysts’ expectations of C$9.18 billion. Sun Life Financial had a return on equity of 13.65% and a net margin of 9.90%. Sell-side analysts anticipate that Sun Life Financial Inc. will post 7.379822 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.20%. The ex-dividend date is Wednesday, August 28th. Sun Life Financial’s dividend payout ratio is presently 61.36%.

Insider Buying and Selling

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of Sun Life Financial stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total value of C$1,142,323.80. In related news, Senior Officer Linda Dougherty sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total value of C$150,590.00. Also, Senior Officer Daniel Fishbein sold 15,999 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. Corporate insiders own 0.03% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.