Sun Life Financial (NYSE:SLF) Sets New 1-Year High After Dividend Announcement

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF)’s share price hit a new 52-week high during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $68.35 and last traded at $67.88, with a volume of 373349 shares trading hands. The stock had previously closed at $64.91.

The newly announced dividend which will be paid on Tuesday, March 31st. Investors of record on Wednesday, February 25th will be issued a $0.92 dividend. The ex-dividend date of this dividend is Wednesday, February 25th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 5.4%. Sun Life Financial’s dividend payout ratio (DPR) is currently 69.68%.

Analyst Ratings Changes

SLF has been the subject of several research analyst reports. Barclays restated an “underweight” rating on shares of Sun Life Financial in a research report on Thursday, January 8th. Scotiabank restated a “sector perform” rating on shares of Sun Life Financial in a research report on Thursday, February 5th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $84.00 price target on shares of Sun Life Financial in a research note on Monday, November 10th. National Bank Financial reiterated a “sector perform” rating on shares of Sun Life Financial in a report on Thursday, November 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Sun Life Financial in a report on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $86.50.

Sun Life Financial Trading Up 5.0%

The firm has a market capitalization of $37.75 billion, a P/E ratio of 18.05 and a beta of 0.88. The business has a 50 day moving average of $62.39 and a 200-day moving average of $60.60.

Institutional Trading of Sun Life Financial

Several hedge funds and other institutional investors have recently modified their holdings of SLF. Brighton Jones LLC bought a new stake in Sun Life Financial in the 4th quarter valued at approximately $244,000. AQR Capital Management LLC raised its stake in shares of Sun Life Financial by 113.8% during the 1st quarter. AQR Capital Management LLC now owns 8,022 shares of the financial services provider’s stock worth $454,000 after purchasing an additional 4,270 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Sun Life Financial in the second quarter valued at $204,000. Blue Trust Inc. lifted its stake in Sun Life Financial by 26.3% in the 2nd quarter. Blue Trust Inc. now owns 4,341 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 904 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in shares of Sun Life Financial by 20.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 30,441 shares of the financial services provider’s stock worth $2,023,000 after acquiring an additional 5,231 shares during the period. Institutional investors and hedge funds own 52.26% of the company’s stock.

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.