Sun Life Financial (TSE:SLF) Sets New 12-Month High After Analyst Upgrade

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF)’s share price hit a new 52-week high during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from C$78.00 to C$82.00. The company traded as high as C$80.82 and last traded at C$79.35, with a volume of 134964 shares trading hands. The stock had previously closed at C$77.45.

Several other equities research analysts have also issued reports on the stock. Barclays increased their target price on shares of Sun Life Financial from C$76.00 to C$79.00 in a research note on Tuesday. Cormark increased their price target on Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday. National Bankshares raised their price objective on Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 13th. Evercore reduced their target price on Sun Life Financial from C$76.00 to C$75.00 in a research note on Thursday, July 11th. Finally, CIBC increased their target price on Sun Life Financial from C$80.00 to C$90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$81.36.

Insider Buying and Selling at Sun Life Financial

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of the company’s stock in a transaction on 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. In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total transaction of C$150,590.00. Also, Senior Officer Daniel Fishbein sold 15,999 shares of the business’s stock in a transaction on 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. Company insiders own 0.03% of the company’s stock.

Sun Life Financial Stock Performance

The stock has a 50 day moving average of C$77.10 and a two-hundred day moving average of C$71.66. 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. The stock has a market capitalization of C$47.32 billion, a PE ratio of 15.55, a P/E/G ratio of 1.33 and a beta of 0.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings results 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. Sun Life Financial had a return on equity of 13.65% and a net margin of 9.90%. The company had revenue of C$8.92 billion during the quarter, compared to analysts’ expectations of C$9.18 billion. Research analysts expect that Sun Life Financial Inc. will post 6.9230769 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.81. Sun Life Financial’s dividend payout ratio is currently 61.36%.

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.