Sun Life Financial (TSE:SLF) Sets New 1-Year High – Still a Buy?

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) shares hit a new 52-week high on Friday . The company traded as high as C$79.05 and last traded at C$78.97, with a volume of 34994 shares trading hands. The stock had previously closed at C$78.09.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays set a C$76.00 target price on shares of Sun Life Financial and gave the company an “equal weight” rating in a research 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. Jefferies Financial Group increased their target price on Sun Life Financial from C$78.00 to C$81.00 and gave the company a “buy” rating in a research note on Wednesday, August 14th. Evercore lowered their price target on Sun Life Financial from C$76.00 to C$75.00 in a research report on Thursday, July 11th. Finally, TD Securities cut 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Sun Life Financial presently has an average rating of “Moderate Buy” and an average price target of C$76.09.

Sun Life Financial Price Performance

The firm has a fifty day moving average of C$72.75 and a two-hundred day moving average of C$70.71. The company has a current ratio of 65.29, a quick ratio of 84,866.00 and a debt-to-equity ratio of 53.77. The company has a market capitalization of C$45.62 billion, a PE ratio of 14.79, a PEG ratio of 1.25 and a beta of 0.93.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its earnings results on Monday, August 12th. The financial services provider reported C$1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.58 by C$0.13. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. The firm had revenue of C$8.92 billion for the quarter, compared to analysts’ expectations of C$9.18 billion. Research analysts anticipate that Sun Life Financial Inc. will post 7.3314607 EPS for the current fiscal year.

Sun Life Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is 61.36%.

Insider Transactions at Sun Life Financial

In other news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial 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. In other news, Senior Officer Daniel Fishbein sold 15,999 shares of Sun Life Financial stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. Also, Senior Officer Linda Dougherty sold 2,000 shares of the business’s 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. 0.03% of the stock is currently owned by company 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.