Sun Life Financial (TSE:SLF) Price Target Raised to C$82.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price hoisted by Royal Bank of Canada from C$78.00 to C$82.00 in a research note issued to investors on Wednesday morning,BayStreet.CA reports.

Other research analysts have also issued research reports about the company. National Bankshares raised 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 report on Tuesday, August 13th. Barclays raised their price target on shares of Sun Life Financial from C$76.00 to C$79.00 in a research note on Tuesday. Scotiabank upped their price objective on shares of Sun Life Financial from C$73.00 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of Sun Life Financial from C$81.00 to C$89.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, Cormark upped their price target on Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$81.36.

Sun Life Financial Stock Down 0.2 %

SLF stock opened at C$82.46 on Wednesday. Sun Life Financial has a one year low of C$64.38 and a one year high of C$82.86. The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29. The firm’s fifty day moving average is C$77.46 and its 200 day moving average is C$71.84. The firm has a market cap of C$47.54 billion, a PE ratio of 15.62, a P/E/G ratio of 1.33 and a beta of 0.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its earnings results on Monday, August 12th. The financial services provider reported C$1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.58 by C$0.13. Sun Life Financial had a return on equity of 13.65% and a net margin of 9.90%. The firm had revenue of C$8.92 billion for the quarter, compared to analyst estimates of C$9.18 billion. On average, research analysts forecast that Sun Life Financial will post 6.9230769 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 4.07%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio is presently 61.36%.

Insider Buying and Selling at Sun Life Financial

In other news, Senior Officer Linda Dougherty sold 2,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total transaction of C$150,590.00. In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. Also, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. Company insiders own 0.03% of the company’s stock.

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.