Sun Life Financial (NYSE:SLF) Sets New 12-Month High – Should You Buy?

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $80.36 and last traded at $79.9550, with a volume of 420068 shares traded. The stock had previously closed at $78.99.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barclays reiterated an “underweight” rating on shares of Sun Life Financial in a research note on Tuesday. Weiss Ratings restated a “buy (b)” rating on shares of Sun Life Financial in a report on Monday. National Bank Financial raised Sun Life Financial from a “sector perform” rating to an “outperform” rating in a research report on Friday, April 24th. Scotiabank reiterated a “sector perform” rating on shares of Sun Life Financial in a report on Wednesday, April 29th. Finally, TD Securities reiterated a “buy” rating on shares of Sun Life Financial in a report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Sun Life Financial has an average rating of “Moderate Buy” and a consensus target price of $84.67.

Sun Life Financial Stock Performance

The stock’s fifty day moving average price is $74.78 and its 200-day moving average price is $68.19. The company has a market capitalization of $44.79 billion, a P/E ratio of 20.69 and a beta of 0.88.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.03. The business had revenue of $6.41 billion during the quarter, compared to analysts’ expectations of $925.99 million. Sun Life Financial had a return on equity of 17.80% and a net margin of 7.85%.During the same quarter last year, the company posted $1.82 earnings per share. On average, research analysts predict that Sun Life Financial Inc. will post 5.76 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Wednesday, May 27th were given a $0.96 dividend. The ex-dividend date of this dividend was Wednesday, May 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 dividend on an annualized basis and a dividend yield of 4.8%. Sun Life Financial’s payout ratio is 72.94%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SLF. Brighton Jones LLC acquired a new stake in Sun Life Financial during the 4th quarter valued at $244,000. AQR Capital Management LLC raised its position in shares of Sun Life Financial by 113.8% in the first quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 4,270 shares during the period. Sivia Capital Partners LLC bought a new position in shares of Sun Life Financial in the second quarter valued at about $204,000. Prudential Financial Inc. acquired a new stake in shares of Sun Life Financial during the 2nd quarter worth about $232,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Sun Life Financial by 66.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,734 shares of the financial services provider’s stock worth $115,000 after buying an additional 692 shares during the last quarter. 52.26% of the stock is owned by institutional investors and hedge funds.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.