Sun Life Financial (NYSE:SLF) Hits New 12-Month High at $45.10

Sun Life Financial Inc (NYSE:SLF) (TSE:SLF)’s stock price reached a new 52-week high on Monday . The company traded as high as $45.10 and last traded at $45.10, with a volume of 2491 shares traded. The stock had previously closed at $44.58.

A number of analysts have recently weighed in on SLF shares. BMO Capital Markets set a $60.00 target price on shares of Sun Life Financial and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Evercore ISI reaffirmed an “outperform” rating on shares of Sun Life Financial in a research report on Monday, July 22nd. Barclays upped their target price on shares of Sun Life Financial from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 10th. Zacks Investment Research raised shares of Sun Life Financial from a “sell” rating to a “hold” rating and set a $45.00 target price on the stock in a research report on Thursday, July 4th. Finally, ValuEngine downgraded shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $53.00.

The company’s 50-day moving average is $43.47 and its 200 day moving average is $41.23. The company has a market capitalization of $26.41 billion, a PE ratio of 11.99, a P/E/G ratio of 1.31 and a beta of 0.91.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last announced its quarterly earnings data on Wednesday, July 31st. The financial services provider reported $1.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.94 by $0.30. Sun Life Financial had a net margin of 6.83% and a return on equity of 13.37%. The company had revenue of $7.59 billion for the quarter, compared to the consensus estimate of $6.93 billion. During the same period in the prior year, the firm posted $1.20 EPS. Sell-side analysts forecast that Sun Life Financial Inc will post 3.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Wednesday, August 28th were given a dividend of $0.401 per share. This represents a $1.60 annualized dividend and a yield of 3.56%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Tuesday, August 27th. Sun Life Financial’s dividend payout ratio is 42.40%.

A number of hedge funds have recently made changes to their positions in the stock. Asset Planning Services Ltd. purchased a new stake in shares of Sun Life Financial during the 2nd quarter valued at about $27,000. HM Payson & Co. purchased a new stake in shares of Sun Life Financial during the 2nd quarter valued at about $31,000. Parallel Advisors LLC boosted its holdings in shares of Sun Life Financial by 113.1% during the 2nd quarter. Parallel Advisors LLC now owns 827 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 439 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Sun Life Financial by 514.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 921 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 771 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new stake in shares of Sun Life Financial during the 2nd quarter valued at about $65,000. 40.30% of the stock is currently owned by institutional investors.

Sun Life Financial Company Profile (NYSE: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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