Sun Life Financial (TSE:SLF) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$71.12 and traded as high as C$78.60. Sun Life Financial shares last traded at C$78.52, with a volume of 631,908 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. TD Securities decreased their price objective on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Evercore lowered their price target on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Jefferies Financial Group upped their price objective on Sun Life Financial from C$81.00 to C$89.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. National Bankshares increased their price objective on Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 13th. Finally, Royal Bank of Canada boosted their target price on Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, Sun Life Financial currently has a consensus rating of “Moderate Buy” and an average price target of C$76.82.

Sun Life Financial Stock Down 0.3 %

The stock has a market cap of C$45.20 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The firm has a 50 day simple moving average of C$75.77 and a two-hundred day simple moving average of C$71.16. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 earnings per share for the quarter, topping the consensus estimate of C$1.58 by C$0.13. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. The business had revenue of C$8.92 billion for the quarter, compared to analyst estimates of C$9.18 billion. As a group, sell-side analysts expect that Sun Life Financial Inc. will post 6.9230769 EPS for the current year.

Sun Life Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 4.13%. The ex-dividend date of this dividend was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is 61.36%.

Insider Buying and Selling

In other Sun Life Financial news, Director Stephanie Coyles bought 500 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at approximately C$35,000. In related news, Senior Officer Daniel Fishbein sold 15,999 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total value of C$1,142,323.80. Also, Director Stephanie Coyles bought 500 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately C$35,000. 0.03% of the stock is currently owned by company 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.