Sun Life Financial (TSE:SLF) Hits New 1-Year High – Still a Buy?

Sun Life Financial Inc. (TSE:SLF) (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 changing hands. The stock had previously closed at C$85.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. National Bankshares raised their target price on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 13th. TD Securities raised their price objective on shares of Sun Life Financial from C$81.00 to C$87.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Scotiabank upped their target price on Sun Life Financial from C$85.00 to C$96.00 in a report on Thursday, November 14th. Royal Bank of Canada increased their price target on shares of Sun Life Financial from C$78.00 to C$82.00 in a research note on Wednesday, November 6th. Finally, CIBC raised their target price on shares of Sun Life Financial from C$90.00 to C$96.00 in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$84.18.

Sun Life Financial Price Performance

The firm has a 50-day moving average of C$79.61 and a 200-day moving average of C$72.82. The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29. The firm has a market capitalization of C$49.31 billion, a P/E ratio of 16.20, a PEG ratio of 1.33 and a beta of 0.94.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 3.93%. This is an increase 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 (DPR) is presently 61.36%.

Insider Activity

In other news, Director Kevin Strain sold 85,943 shares of the company’s stock in a transaction dated 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 acquired 5,800 shares of the stock in a transaction dated Friday, November 15th. The stock was acquired at an average price of C$84.83 per share, for a total transaction of C$492,014.00. 0.03% of the stock is owned by corporate insiders.

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.