Sun Life Financial Inc. (TSE:SLF – Get Free Report) (NYSE:SLF) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as C$110.37 and last traded at C$110.02, with a volume of 489639 shares changing hands. The stock had previously closed at C$108.70.
Wall Street Analyst Weigh In
A number of research firms have weighed in on SLF. Barclays raised their price target on Sun Life Financial from C$84.00 to C$85.00 in a research note on Wednesday, April 8th. Jefferies Financial Group boosted their target price on shares of Sun Life Financial from C$103.00 to C$115.00 in a report on Friday, May 1st. Canadian Imperial Bank of Commerce boosted their target price on shares of Sun Life Financial from C$95.00 to C$102.00 in a report on Friday, May 8th. TD boosted their target price on shares of Sun Life Financial from C$102.00 to C$107.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Desjardins set a C$101.00 price target on Sun Life Financial and gave the stock a “buy” rating in a report on Friday, April 17th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Sun Life Financial presently has an average rating of “Moderate Buy” and an average price target of C$101.60.
Check Out Our Latest Stock Analysis on Sun Life Financial
Sun Life Financial Trading Up 1.2%
Sun Life Financial (TSE:SLF – Get Free Report) (NYSE:SLF) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share for the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.98%. The company had revenue of C$8.73 billion for the quarter. As a group, equities research analysts forecast that Sun Life Financial Inc. will post 6.9230769 EPS for the current fiscal year.
Sun Life Financial Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th will be given a dividend of $0.96 per share. This represents a $3.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Wednesday, May 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s dividend payout ratio is currently 67.04%.
Insider Activity at Sun Life Financial
In other Sun Life Financial news, insider Helena Janina Pagano sold 17,283 shares of Sun Life Financial stock in a transaction on Monday, May 25th. The shares were sold at an average price of C$101.32, for a total value of C$1,751,113.56. Following the completion of the sale, the insider directly owned 228 shares of the company’s stock, valued at approximately C$23,100.96. The trade was a 98.70% decrease in their ownership of the stock. Also, insider Manjit Singh sold 188,312 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of C$103.20, for a total value of C$19,433,798.40. Following the completion of the sale, the insider directly owned 547 shares of the company’s stock, valued at C$56,450.40. The trade was a 99.71% decrease in their ownership of the stock. Over the last quarter, insiders have sold 380,998 shares of company stock worth $38,271,605. Corporate insiders own 0.03% of the company’s stock.
About Sun Life Financial
Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm. Sun Life generates about a third of its profit from asset-management operations.
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