Sun Life Financial (TSE:SLF) Reaches New 1-Year High at $58.74

Sun Life Financial Inc (TSE:SLF) (NYSE:SLF)’s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$58.74 and last traded at C$58.54, with a volume of 304046 shares traded. The stock had previously closed at C$58.51.

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

The company has a market cap of $34.42 billion and a price-to-earnings ratio of 14.87. The company has a current ratio of 10,847.75, a quick ratio of 10,082.25 and a debt-to-equity ratio of 16.62. The firm’s 50-day moving average price is C$54.22 and its 200 day moving average price is C$53.60.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported C$1.24 EPS for the quarter, hitting the consensus estimate of C$1.24. The company had revenue of C$10.15 billion for the quarter. Analysts forecast that Sun Life Financial Inc will post 5.4500001 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Wednesday, August 28th will be given a $0.525 dividend. This represents a $2.10 annualized dividend and a yield of 3.59%. The ex-dividend date of this dividend is Tuesday, August 27th. Sun Life Financial’s payout ratio is currently 50.86%.

In related news, Director Dean Connor sold 20,000 shares of Sun Life Financial stock in a transaction 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 owns 142,211 shares of the company’s stock, valued at approximately C$7,437,293.99. Also, Senior Officer Stephen Peacher sold 12,000 shares of Sun Life Financial stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of C$52.60, for a total transaction of C$631,200.00. Following the completion of the sale, the insider now directly owns 15,407 shares of the company’s stock, valued at approximately C$810,408.20. In the last three months, insiders sold 38,206 shares of company stock valued at $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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