Sun Life Financial (TSE:SLF) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$85.20 and traded as high as C$87.63. Sun Life Financial shares last traded at C$87.34, with a volume of 1,147,527 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. TD Securities reduced their target price 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 note on Thursday, February 12th. BMO Capital Markets raised their price objective on shares of Sun Life Financial from C$95.00 to C$100.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. 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 report on Thursday, January 8th. Scotiabank increased their price target on Sun Life Financial from C$93.00 to C$96.00 and gave the company a “sector perform” rating in a research note on Friday, February 13th. Finally, Barclays lowered their target price on Sun Life Financial from C$84.00 to C$83.00 in a report on Friday, January 9th. One 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. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of C$96.44.

Sun Life Financial Stock Up 1.4%

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. The firm’s 50 day moving average price is C$88.10 and its two-hundred day moving average price is C$85.20. The company has a market capitalization of C$48.38 billion, a price-to-earnings ratio of 14.20, a price-to-earnings-growth ratio of 1.33 and a beta of 0.76.

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

Sun Life Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a dividend of $0.92 per share. 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 4.2%. 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.