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

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price increased by Scotiabank from C$85.00 to C$96.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports.

Several other equities research analysts have also issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Sun Life Financial from C$78.00 to C$82.00 in a research note on Wednesday, November 6th. CIBC boosted their price target on Sun Life Financial from C$90.00 to C$96.00 in a research report on Wednesday. Cormark increased their price objective on Sun Life Financial from C$82.00 to C$85.00 in a report on Tuesday, November 5th. 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 research note on Tuesday, August 13th. Finally, Barclays upped their target price on Sun Life Financial from C$76.00 to C$79.00 in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of C$84.18.

Sun Life Financial Price Performance

Shares of SLF opened at C$84.88 on Thursday. 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 has a market cap of C$48.93 billion, a PE ratio of 16.08, a PEG ratio of 1.33 and a beta of 0.94. The firm’s 50 day moving average price is C$78.56 and its 200 day moving average price is C$72.32. Sun Life Financial has a twelve month low of C$64.38 and a twelve month high of C$86.39.

Sun Life Financial Increases Dividend

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

Insider Activity at Sun Life Financial

In other news, Director Kevin Strain sold 85,943 shares of Sun Life Financial 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 bought 5,800 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was purchased at an average price of C$84.83 per share, with a total value of C$492,014.00. Corporate 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.