Sun Life Financial (TSE:SLF) Hits New 1-Year High – What’s Next?

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF)’s stock price reached a new 52-week high during trading on Tuesday . The company traded as high as C$96.68 and last traded at C$96.39, with a volume of 185226 shares trading hands. The stock had previously closed at C$96.08.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SLF shares. Canadian Imperial Bank of Commerce lifted their target price on shares of Sun Life Financial from C$93.00 to C$95.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. TD Securities cut their price target on shares of Sun Life Financial from C$104.00 to C$102.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Royal Bank Of Canada increased their price target on Sun Life Financial from C$83.00 to C$95.00 and gave the stock a “sector perform” rating in a report on Friday, February 13th. Barclays lifted their price objective on Sun Life Financial from C$84.00 to C$85.00 in a research report on Wednesday, April 8th. Finally, Desjardins set a C$101.00 target price on Sun Life Financial and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Sun Life Financial currently has a consensus rating of “Hold” and an average price target of C$96.67.

Sun Life Financial Stock Up 0.4%

The company has a market cap of C$53.43 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 1.33 and a beta of 0.69. The stock’s 50-day moving average is C$89.21 and its 200-day moving average is C$86.51. The company has a current ratio of 2.78, a quick ratio of 84,866.00 and a debt-to-equity ratio of 74.49.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings results on Wednesday, February 11th. The financial services provider reported C$1.96 earnings per share (EPS) for the quarter. Sun Life Financial had a return on equity of 14.68% and a net margin of 9.74%.The business had revenue of C$8.67 billion for the quarter. On average, analysts anticipate that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current fiscal year.

Sun Life Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $3.68 annualized dividend and a dividend yield of 3.8%. Sun Life Financial’s payout ratio is presently 57.24%.

About Sun Life Financial

Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm. Sun Life generates about a third of its profit from asset-management operations.