Sun Life Financial (TSE:SLF) Sets New 52-Week High After Dividend Announcement

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF shares hit a new 52-week high on Tuesday following a dividend announcement from the company. The company traded as high as C$80.82 and last traded at C$79.35, with a volume of 134964 shares trading hands. The stock had previously closed at C$77.45.

The newly announced dividend which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a dividend of $0.84 per share. This is a boost from Sun Life Financial's previous quarterly dividend of $0.81. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.20%. Sun Life Financial's payout ratio is currently 61.36%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLF. Cormark lifted their target price on Sun Life Financial from C$82.00 to C$85.00 in a research note on Tuesday. Scotiabank increased their target price on Sun Life Financial from C$73.00 to C$85.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective on Sun Life Financial from C$81.00 to C$89.00 and gave the stock a "buy" rating in a research report on Wednesday, October 16th. TD Securities upped their target price on shares of Sun Life Financial from C$77.00 to C$81.00 in a research note on Tuesday. Finally, Barclays lifted their price target on shares of Sun Life Financial from C$76.00 to C$79.00 in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, Sun Life Financial has an average rating of "Moderate Buy" and a consensus target price of C$81.00.

Sun Life Financial Stock Performance

The company has a 50-day moving average price of C$76.93 and a two-hundred day moving average price of C$71.57. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. The stock has a market capitalization of C$46.08 billion, a P/E ratio of 15.14, a PEG ratio of 1.33 and a beta of 0.94.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last posted its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 earnings per share for the quarter, topping the consensus estimate of C$1.58 by C$0.13. The company had revenue of C$8.92 billion for the quarter, compared to analysts' expectations of C$9.18 billion. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. Equities analysts expect that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current year.

Insiders Place Their Bets

In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of the business's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total value of C$150,590.00. In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of Sun Life Financial stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total value of C$1,142,323.80. Also, Senior Officer Linda Dougherty sold 2,000 shares of the firm's stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total transaction of C$150,590.00. Company insiders own 0.03% of the company's stock.

About Sun Life Financial

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.