Sun Life Financial (NYSE:SLF) Sets New 12-Month High - Here's What Happened

Sun Life Financial Inc. (NYSE:SLF - Get Free Report) TSE: SLF reached a new 52-week high during trading on Monday . The stock traded as high as $59.82 and last traded at $59.80, with a volume of 16964 shares trading hands. The stock had previously closed at $59.23.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SLF. Barclays began coverage on shares of Sun Life Financial in a research report on Thursday, September 5th. They set an "equal weight" rating for the company. StockNews.com raised shares of Sun Life Financial from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th.

Sun Life Financial Stock Performance

The company's fifty day moving average is $56.82 and its 200-day moving average is $52.60. The company has a market capitalization of $37.53 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings results on Monday, August 12th. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.07. Sun Life Financial had a return on equity of 17.44% and a net margin of 7.32%. The business had revenue of $6.52 billion during the quarter, compared to the consensus estimate of $6.72 billion. On average, sell-side analysts expect that Sun Life Financial Inc. will post 4.85 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.621 per share. This is an increase from Sun Life Financial's previous quarterly dividend of $0.59. This represents a $2.48 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial's dividend payout ratio is currently 52.34%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. West Family Investments Inc. lifted its position in Sun Life Financial by 16.9% in the third quarter. West Family Investments Inc. now owns 7,179 shares of the financial services provider's stock worth $417,000 after buying an additional 1,039 shares during the last quarter. Natixis Advisors LLC boosted its position in Sun Life Financial by 13.3% during the third quarter. Natixis Advisors LLC now owns 43,246 shares of the financial services provider's stock valued at $2,509,000 after purchasing an additional 5,086 shares in the last quarter. CIBC Asset Management Inc boosted its position in Sun Life Financial by 1.3% during the third quarter. CIBC Asset Management Inc now owns 6,488,668 shares of the financial services provider's stock valued at $377,311,000 after purchasing an additional 81,261 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Sun Life Financial in the third quarter worth about $101,000. Finally, Entropy Technologies LP acquired a new stake in shares of Sun Life Financial during the third quarter worth about $788,000. 52.26% of the stock is currently owned by institutional investors.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.