Sun Life Financial Inc (TSE:SLF) (NYSE:SLF)’s share price hit a new 52-week high on Wednesday . The company traded as high as C$55.20 and last traded at C$54.71, with a volume of 470491 shares changing hands. The stock had previously closed at C$54.53.
A number of equities analysts recently weighed in on the company. Eight Capital raised their price objective on Sun Life Financial from C$52.00 to C$55.00 in a report on Friday, February 16th. BMO Capital Markets raised Sun Life Financial from a “market perform” rating to an “outperform” rating and raised their price objective for the company from C$56.00 to C$61.00 in a report on Friday, February 16th. Barclays raised their price objective on Sun Life Financial from C$55.00 to C$57.00 in a report on Friday, February 16th. National Bank Financial raised their price objective on Sun Life Financial from C$54.00 to C$60.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, CSFB raised their price objective on Sun Life Financial from C$54.00 to C$56.00 in a report on Monday, January 29th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of C$58.67.
The stock has a market capitalization of $33,460.00, a P/E ratio of 15.67 and a beta of 0.48.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 29th. Stockholders of record on Thursday, March 1st will be given a $0.455 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.02. This represents a $1.82 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Wednesday, February 28th. Sun Life Financial’s dividend payout ratio (DPR) is currently 50.14%.
In other news, insider Carolyn Diane Blair sold 3,890 shares of Sun Life Financial stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of C$54.09, for a total value of C$210,410.10. Also, insider Kevin Strain sold 12,511 shares of Sun Life Financial stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of C$53.84, for a total value of C$673,592.24.
About Sun Life Financial
Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.
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