Sun Life Financial (TSE:SLF) Reaches New 52-Week High – Here’s Why

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF)’s share price hit a new 52-week high during trading on Friday . The stock traded as high as C$86.51 and last traded at C$85.64, with a volume of 3811146 shares changing hands. The stock had previously closed at C$85.74.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Cormark upped their price objective on Sun Life Financial from C$82.00 to C$85.00 in a research note on Tuesday, November 5th. Royal Bank of Canada increased their price objective on shares of Sun Life Financial from C$78.00 to C$82.00 in a report on Wednesday, November 6th. 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. Jefferies Financial Group upped their target price on shares of Sun Life Financial from C$90.00 to C$94.00 in a research report on Thursday, November 14th. Finally, Scotiabank lifted their price target on shares of Sun Life Financial from C$85.00 to C$96.00 in a report on Thursday, November 14th. Three equities research 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.com, Sun Life Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$84.18.

Sun Life Financial Stock Down 0.2 %

The business’s 50 day simple moving average is C$79.61 and its 200 day simple moving average is C$72.82. 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 firm has a market capitalization of C$49.31 billion, a PE ratio of 16.20, a PEG ratio of 1.33 and a beta of 0.94.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be paid a dividend of $0.84 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.81. This represents a $3.36 annualized dividend and a yield of 3.93%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s payout ratio is presently 61.36%.

Insider Activity

In related news, Director Kevin Strain sold 85,943 shares of the company’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of C$84.71, for a total transaction of C$7,280,231.53. Also, Senior Officer Linda Dougherty acquired 5,800 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was purchased at an average cost of C$84.83 per share, with a total value of C$492,014.00. Corporate insiders own 0.03% of the company’s stock.

Sun Life Financial Company Profile

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.