Sun Life Financial (TSE:SLF) Stock Price Expected to Rise, Cormark Analyst Says

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target lifted by Cormark from C$82.00 to C$85.00 in a report published on Tuesday,BayStreet.CA reports. Cormark also issued estimates for Sun Life Financial’s FY2024 earnings at $6.76 EPS and FY2025 earnings at $7.50 EPS.

A number of other equities analysts have also recently commented on the company. CIBC increased their target price on Sun Life Financial from C$80.00 to C$90.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays set a C$76.00 price objective on Sun Life Financial and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Royal Bank of Canada 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 report on Wednesday, August 14th. National Bankshares raised their price target on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 13th. Finally, TD Securities upped their price objective on shares of Sun Life Financial from C$77.00 to C$81.00 in a research note on Tuesday. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$81.36.

Sun Life Financial Trading Down 0.2 %

Shares of TSE:SLF opened at C$82.46 on Tuesday. The company has a current ratio of 65.29, a quick ratio of 84,866.00 and a debt-to-equity ratio of 53.77. Sun Life Financial has a 12-month low of C$64.38 and a 12-month high of C$82.86. The business has a 50 day moving average of C$77.46 and a two-hundred day moving average of C$71.84. The company has a market capitalization of C$47.54 billion, a PE ratio of 15.62, a PEG ratio of 1.33 and a beta of 0.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its earnings results on Monday, August 12th. The financial services provider reported C$1.71 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 analysts’ expectations of C$9.18 billion. As a group, analysts forecast that Sun Life Financial will post 6.9230769 EPS for the current year.

Sun Life Financial Increases Dividend

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

Insider Buying and Selling

In other news, Senior Officer Linda Dougherty sold 2,000 shares of the stock in a transaction that occurred 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 news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial 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. Also, Director Stephanie Coyles acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of C$70.00 per share, for a total transaction of C$35,000.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately C$35,000. 0.03% of the stock is currently owned by corporate 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.