Sun Life Financial (TSE:SLF) Sets New 52-Week High – Time to Buy?

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) shares hit a new 52-week high on Friday . The stock traded as high as C$20.25 and last traded at C$98.25, with a volume of 298700 shares. The stock had previously closed at C$98.30.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SLF shares. Barclays upped their target price on shares of Sun Life Financial from C$84.00 to C$85.00 in a research report on Wednesday, April 8th. National Bank Financial lowered their target price on shares of Sun Life Financial from C$109.00 to C$108.00 and set an “outperform” rating on the stock in a research report on Thursday, May 7th. Desjardins set a C$101.00 target price on shares of Sun Life Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. TD increased their price target on shares of Sun Life Financial from C$102.00 to C$107.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, TD Securities lowered their price target on shares of Sun Life Financial from C$104.00 to C$102.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$101.60.

Sun Life Financial Price Performance

The firm’s 50-day moving average price is C$91.38 and its 200 day moving average price is C$87.78. The firm has a market capitalization of C$54.67 billion, a price-to-earnings ratio of 18.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.73.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 EPS for the quarter. The business had revenue of C$8.73 billion for the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.98%. On average, analysts predict that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a $0.96 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Wednesday, May 27th. Sun Life Financial’s dividend payout ratio (DPR) is currently 67.04%.

Insider Buying and Selling

In related news, insider Jacques Jr. Goulet sold 11,740 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of C$97.09, for a total transaction of C$1,139,836.60. Following the sale, the insider owned 1,054 shares in the company, valued at approximately C$102,332.86. This trade represents a 91.76% decrease in their ownership of the stock. Also, insider Linda Dougherty sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 13th. The stock was sold at an average price of C$97.01, for a total transaction of C$485,050.00. Over the last 90 days, insiders have sold 129,537 shares of company stock worth $12,561,217. 0.03% of the stock is owned by insiders.

Sun Life Financial Company Profile

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.