Sun Life Financial (TSE:SLF) Hits New 1-Year High at $57.34

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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$57.34 and last traded at C$57.28, with a volume of 473631 shares trading hands. The stock had previously closed at C$56.91.

Several research firms have recently issued reports on SLF. Evercore set a C$63.00 price target on shares of Sun Life Financial and gave the company an “outperform” rating in a research note on Monday, July 22nd. TD Securities reduced their price objective on shares of Sun Life Financial from C$61.00 to C$60.00 and set a “buy” rating on the stock in a research note on Thursday, August 1st. CIBC cut their target price on Sun Life Financial from C$54.00 to C$53.00 in a report on Friday, August 2nd. Evercore ISI reaffirmed an “outperform” rating and issued a C$63.00 price objective on shares of Sun Life Financial in a research note on Monday, July 22nd. Finally, Barclays cut shares of Sun Life Financial from an “overweight” rating to an “equal weight” rating and cut their price target for the company from C$58.00 to C$57.00 in a research report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. Sun Life Financial currently has a consensus rating of “Buy” and a consensus target price of C$58.00.

The company has a debt-to-equity ratio of 16.62, a current ratio of 10,847.75 and a quick ratio of 10,082.25. The stock has a fifty day simple moving average of C$53.86 and a two-hundred day simple moving average of C$53.35. The firm has a market capitalization of $33.48 billion and a P/E ratio of 14.57.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings results on Wednesday, July 31st. The financial services provider reported C$1.24 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of C$1.24. The business had revenue of C$10.15 billion for the quarter. As a group, sell-side analysts expect that Sun Life Financial Inc will post 5.4400004 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, August 28th will be given a dividend of $0.525 per share. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $2.10 dividend on an annualized basis and a dividend yield of 3.66%. Sun Life Financial’s payout ratio is presently 50.86%.

In other Sun Life Financial news, Senior Officer Stephen Peacher sold 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 20th. The stock was sold at an average price of C$52.60, for a total value of C$631,200.00. Following the completion of the sale, the insider now owns 15,407 shares of the company’s stock, valued at C$810,408.20. Also, Director Dean Connor sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of C$52.30, for a total value of C$1,045,952.00. Following the completion of the sale, the director now directly owns 142,211 shares of the company’s stock, valued at approximately C$7,437,293.99. Over the last three months, insiders have sold 38,206 shares of company stock worth $2,006,070.

Sun Life Financial Company Profile (TSE:SLF)

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

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