Sun Life Financial (TSE:SLF) Hits New 52-Week High - Here's What Happened

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF's share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as C$86.51 and last traded at C$85.64, with a volume of 3811146 shares trading hands. The stock had previously closed at C$85.74.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Scotiabank increased their price objective on shares of Sun Life Financial from C$85.00 to C$96.00 in a research note on Thursday, November 14th. Jefferies Financial Group raised their price target on shares of Sun Life Financial from C$90.00 to C$94.00 in a report on Thursday, November 14th. National Bankshares lifted their price target on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the company a "sector perform" rating in a research report on Tuesday, August 13th. Barclays lifted their target price on Sun Life Financial from C$79.00 to C$82.00 in a research note on Thursday, November 14th. Finally, Royal Bank of Canada upped their price target on Sun Life Financial from C$78.00 to C$82.00 in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Sun Life Financial has an average rating of "Moderate Buy" and an average target price of C$84.18.

Sun Life Financial Price Performance

The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00. The stock has a market cap of C$49.34 billion, a P/E ratio of 16.24, a P/E/G ratio of 1.33 and a beta of 0.94. The company's 50 day simple moving average is C$79.40 and its 200 day simple moving average is C$72.73.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.93%. This is a boost from Sun Life Financial's previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial's dividend payout ratio is currently 61.36%.

Insider Activity

In other Sun Life Financial news, Director Kevin Strain sold 85,943 shares of the business's stock in a transaction on Friday, November 15th. The shares were sold at an average price of C$84.71, for a total transaction of C$7,280,231.53. Also, Senior Officer Linda Dougherty bought 5,800 shares of the firm's stock in a transaction on Friday, November 15th. The stock was acquired at an average cost of C$84.83 per share, with a total value of C$492,014.00. Insiders own 0.03% of the company's stock.

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.

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