Sun Life Financial (TSE:SLF) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of C$84.35 and traded as high as C$90.88. Sun Life Financial shares last traded at C$90.84, with a volume of 3,112,486 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. BMO Capital Markets upped their price target on Sun Life Financial from C$95.00 to C$100.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. TD Securities cut 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. Jefferies Financial Group lifted their price target on shares of Sun Life Financial from C$97.00 to C$103.00 in a research note on Friday, February 13th. Barclays lowered their price objective on Sun Life Financial from C$84.00 to C$83.00 in a research report on Friday, January 9th. Finally, Desjardins increased their target price on shares of Sun Life Financial from C$96.00 to C$101.00 and gave the company a “buy” rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$96.44.

Sun Life Financial Trading Up 1.5%

The company has a debt-to-equity ratio of 26.00, a current ratio of 92.19 and a quick ratio of 84,866.00. The business’s 50-day simple moving average is C$87.25 and its 200-day simple moving average is C$84.35. The company has a market cap of C$50.31 billion, a price-to-earnings ratio of 14.77, a PEG ratio of 1.33 and a beta of 0.73.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings data on Wednesday, February 11th. The financial services provider reported C$1.96 earnings per share for the quarter. Sun Life Financial had a net margin of 7.58% and a return on equity of 15.69%. Research analysts predict that Sun Life Financial Inc. will post 6.9230769 earnings per share for the current fiscal year.

Sun Life Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st will be issued a $0.92 dividend. This represents a $3.68 annualized dividend and a yield of 4.1%. The ex-dividend date is Wednesday, February 25th. Sun Life Financial’s dividend payout ratio is currently 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.