Sun Life Financial (TSE:SLF) Price Target Raised to C$77.00

Sun Life Financial (TSE:SLFFree Report) (NYSE:SLF) had its price objective raised by CIBC from C$75.00 to C$77.00 in a research report released on Friday morning, BayStreet.CA reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently weighed in on the stock. National Bankshares upped their price objective on shares of Sun Life Financial from C$71.00 to C$72.00 and gave the stock a sector perform rating in a report on Tuesday, January 23rd. Evercore upped their target price on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an outperform rating in a research note on Tuesday, January 23rd. Royal Bank of Canada upped their target price on shares of Sun Life Financial from C$76.00 to C$77.00 and gave the stock an outperform rating in a research note on Friday. TD Securities upped their target price on shares of Sun Life Financial from C$62.00 to C$73.00 and gave the stock a hold rating in a research note on Thursday. Finally, Desjardins set a C$73.00 target price on shares of Sun Life Financial and gave the stock a buy rating in a research note on Tuesday, December 19th. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of C$75.77.

Get Our Latest Research Report on Sun Life Financial

Sun Life Financial Price Performance

Shares of SLF opened at C$71.47 on Friday. The stock has a market cap of C$41.78 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 1.13 and a beta of 0.95. The company has a debt-to-equity ratio of 26.83, a quick ratio of 84,866.00 and a current ratio of 56.90. Sun Life Financial has a fifty-two week low of C$60.01 and a fifty-two week high of C$71.64. The firm’s 50-day simple moving average is C$68.91 and its two-hundred day simple moving average is C$67.42.

Sun Life Financial (TSE:SLFGet Free Report) (NYSE:SLF) last announced its quarterly earnings data on Monday, November 13th. The financial services provider reported C$1.59 earnings per share for the quarter, topping analysts’ consensus estimates of C$1.58 by C$0.01. The business had revenue of C$2.44 billion for the quarter. Sun Life Financial had a net margin of 14.28% and a return on equity of 14.76%. Analysts anticipate that Sun Life Financial will post 6.7398453 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Investors of record on Wednesday, February 28th will be given a dividend of $0.78 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.75. The ex-dividend date is Tuesday, February 27th. This represents a $3.12 dividend on an annualized basis and a yield of 4.37%. Sun Life Financial’s dividend payout ratio is 49.60%.

Insider Activity at Sun Life Financial

In related news, Director Kevin Strain sold 15,986 shares of the stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of C$69.69, for a total transaction of C$1,114,000.40. In other Sun Life Financial news, Director Kevin Strain sold 15,986 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of C$69.69, for a total transaction of C$1,114,000.40. Also, Senior Officer Jacques Jr. Goulet sold 124,639 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of C$70.07, for a total transaction of C$8,732,956.17. 0.02% of the stock is owned by insiders.

About Sun Life Financial

(Get Free Report)

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.

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Analyst Recommendations for Sun Life Financial (TSE:SLF)

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