Sun Life Financial (TSE:SLF) Sets New 12-Month High at $77.92

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$77.92 and last traded at C$77.64, with a volume of 187568 shares trading hands. The stock had previously closed at C$77.32.

Analysts Set New Price Targets

Several research firms recently weighed in on SLF. Evercore reduced their price objective on shares of Sun Life Financial from C$76.00 to C$75.00 in a research note on Thursday, July 11th. Royal Bank of Canada boosted their target price 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. Jefferies Financial Group upped their price objective on shares of Sun Life Financial from C$78.00 to C$81.00 and gave the company a “buy” rating in a report on Wednesday, August 14th. National Bankshares boosted their target price 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. Finally, TD Securities cut their price objective on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a research report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Sun Life Financial currently has an average rating of “Moderate Buy” and a consensus target price of C$76.09.

Sun Life Financial Trading Up 0.3 %

The stock has a market capitalization of C$44.78 billion, a P/E ratio of 14.55, a P/E/G ratio of 1.25 and a beta of 0.93. The firm’s 50 day moving average price is C$71.42 and its 200 day moving average price is C$70.49. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00.

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 for the quarter, topping analysts’ consensus estimates of C$1.58 by C$0.13. The business had revenue of C$8.92 billion for the quarter, compared to analysts’ expectations of C$9.18 billion. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. As a group, equities research analysts expect that Sun Life Financial Inc. will post 7.2905983 earnings per share for the current fiscal year.

Sun Life Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th will be given a dividend of $0.81 per share. The ex-dividend date is Wednesday, August 28th. This represents a $3.24 annualized dividend and a dividend yield of 4.18%. Sun Life Financial’s payout ratio is 61.36%.

Insider Activity at Sun Life Financial

In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. In related news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total transaction of C$150,590.00. Also, Director Stephanie Coyles purchased 500 shares of Sun Life Financial stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately C$35,000. 0.03% of the stock is currently owned by corporate insiders.

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.