Sun Life Financial (TSE:SLF) Price Target Raised to C$96.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective boosted by CIBC from C$90.00 to C$96.00 in a research note published on Wednesday morning,BayStreet.CA reports.

A number of other research firms also recently commented on SLF. TD Securities increased their target price on shares of Sun Life Financial from C$77.00 to C$81.00 in a research report on Tuesday, November 5th. Barclays raised their price objective on Sun Life Financial from C$76.00 to C$79.00 in a report on Tuesday, November 5th. National Bankshares upped their target price 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. Jefferies Financial Group raised their price target on 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, Royal Bank of Canada increased their price objective on Sun Life Financial from C$78.00 to C$82.00 in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of C$84.18.

Sun Life Financial Price Performance

SLF stock opened at C$84.88 on Wednesday. The stock has a market cap of C$48.93 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 1.33 and a beta of 0.94. Sun Life Financial has a fifty-two week low of C$64.38 and a fifty-two week high of C$86.39. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. The business has a 50 day moving average price of C$78.34 and a 200 day moving average price of C$72.22.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 3.96%. The ex-dividend date of this dividend is Wednesday, November 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.81. Sun Life Financial’s dividend payout ratio is 61.36%.

Insider Activity at Sun Life Financial

In other news, Director Kevin Strain sold 85,943 shares of the stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of C$84.71, for a total transaction of C$7,280,231.53. Also, Senior Officer Linda Dougherty purchased 5,800 shares of Sun Life Financial stock in a transaction dated Friday, November 15th. The stock was acquired at an average cost of C$84.83 per share, with a total value of C$492,014.00. 0.03% of the stock is currently owned by 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.