Sun Life Financial (SLF) Reaches New 12-Month High at $55.50

Sun Life Financial (TSE:SLF) (NYSE:SLF)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as C$55.50 and last traded at C$55.12, with a volume of 382979 shares changing hands. The stock had previously closed at C$55.28.

Several equities analysts have commented on the stock. Eight Capital raised their price target on shares of Sun Life Financial from C$55.00 to C$57.00 in a research report on Thursday, May 10th. BMO Capital Markets raised their price target on shares of Sun Life Financial from C$61.00 to C$62.00 in a research report on Thursday, May 10th. CIBC raised their price target on shares of Sun Life Financial from C$58.00 to C$59.00 in a research report on Thursday, May 10th. National Bank Financial raised their price target on shares of Sun Life Financial from C$54.00 to C$60.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Finally, Barclays raised their price target on shares of Sun Life Financial from C$55.00 to C$57.00 in a research report on Friday, February 16th. Five analysts have rated the stock with a buy rating, Sun Life Financial has an average rating of “Buy” and an average price target of C$59.11.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Wednesday, May 30th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.44%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.46. The ex-dividend date is Tuesday, May 29th.

In other news, Director Stephanie Coyles acquired 500 shares of Sun Life Financial stock in a transaction dated Friday, May 11th. The shares were acquired at an average cost of C$53.47 per share, for a total transaction of C$26,735.00. Also, insider Kevin Strain sold 12,511 shares of the firm’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$53.84, for a total transaction of C$673,592.24.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.

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