Sun Life Financial (TSE:SLF) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF)’s stock price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of C$81.72 and traded as high as C$82.85. Sun Life Financial shares last traded at C$82.36, with a volume of 1,844,626 shares.

Analyst Ratings Changes

A number of equities research analysts have weighed in on SLF shares. CIBC decreased their price objective on Sun Life Financial from C$95.00 to C$94.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. National Bankshares dropped their price objective on Sun Life Financial from C$95.00 to C$93.00 and set an “outperform” rating for the company in a research note on Thursday, February 13th. Scotiabank reduced their target price on shares of Sun Life Financial from C$98.00 to C$94.00 in a research note on Friday, February 14th. National Bank Financial upgraded shares of Sun Life Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada set a C$82.00 price target on shares of Sun Life Financial and gave the company an “outperform” rating in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Sun Life Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$87.00.

Sun Life Financial Trading Up 1.2 %

The company has a quick ratio of 84,866.00, a current ratio of 92.19 and a debt-to-equity ratio of 26.00. The company has a market cap of C$48.07 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.33 and a beta of 0.94. The business has a 50-day moving average price of C$81.19 and a two-hundred day moving average price of C$81.73.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 31st were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.99%. The ex-dividend date was Wednesday, February 26th. Sun Life Financial’s dividend payout ratio (DPR) is currently 48.87%.

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.