Sun Life Financial (NYSE:SLF) Reaches New 52-Week High at $45.10

Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) shares 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. The stock had previously closed at $44.58.

A number of equities research analysts have weighed in on SLF shares. ValuEngine downgraded shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. BMO Capital Markets set a $60.00 price target on shares of Sun Life Financial and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Barclays boosted their target price on shares of Sun Life Financial from $57.00 to $60.00 and gave the company an “equal weight” rating in a research note on Thursday, October 10th. Evercore ISI restated an “outperform” rating on shares of Sun Life Financial in a research note on Monday, July 22nd. Finally, Argus boosted their target price on shares of Sun Life Financial from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, July 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Sun Life Financial has an average rating of “Hold” and a consensus target price of $53.00.

The company’s 50 day moving average price is $43.78 and its 200 day moving average price is $41.35. The company has a market cap of $26.43 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 1.32 and a beta of 0.91.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its earnings results 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 quarter in the previous year, the company earned $1.20 EPS. On average, equities analysts forecast that Sun Life Financial Inc will post 3.77 EPS for the current fiscal year.

The business also recently declared 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 is an increase from Sun Life Financial’s previous quarterly dividend of $0.38. The ex-dividend date was Tuesday, August 27th. This represents a $1.60 annualized dividend and a yield of 3.57%. Sun Life Financial’s dividend payout ratio is 42.40%.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Asset Planning Services Ltd. acquired a new position in Sun Life Financial during the 2nd quarter worth about $27,000. HM Payson & Co. acquired a new position in Sun Life Financial during the 2nd quarter worth about $31,000. Parallel Advisors LLC lifted its position in Sun Life Financial by 113.1% during the 2nd quarter. Parallel Advisors LLC now owns 827 shares of the financial services provider’s stock worth $34,000 after buying an additional 439 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in 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 worth $38,000 after buying an additional 771 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC acquired a new position in Sun Life Financial during the 2nd quarter worth about $65,000. Institutional investors and hedge funds own 40.30% of the company’s stock.

About Sun Life Financial (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.

Read More: Initial Coin Offering (ICO)

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