Barclays Forecasts Strong Price Appreciation for Sun Life Financial (TSE:SLF) Stock

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target raised by Barclays from C$82.00 to C$87.00 in a report issued on Monday,BayStreet.CA reports.

A number of other analysts have also recently weighed in on the stock. Scotiabank boosted their target price on shares of Sun Life Financial from C$85.00 to C$96.00 in a research note on Thursday, November 14th. CIBC boosted their price objective on Sun Life Financial from C$90.00 to C$96.00 in a research report on Wednesday, November 13th. Jefferies Financial Group increased their target price on Sun Life Financial from C$90.00 to C$94.00 in a research report on Thursday, November 14th. TD Securities boosted their price target on Sun Life Financial from C$81.00 to C$87.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Finally, Cormark upped their price objective on Sun Life Financial from C$82.00 to C$85.00 in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$84.64.

Sun Life Financial Stock Down 1.3 %

TSE SLF opened at C$84.41 on Monday. The business has a fifty day moving average price of C$84.34 and a two-hundred day moving average price of C$76.37. The stock has a market capitalization of C$48.66 billion, a PE ratio of 15.99, 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$88.54. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 3.98%. The ex-dividend date was Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.81. Sun Life Financial’s dividend payout ratio (DPR) is 61.36%.

Insider Activity

In other news, Director Kevin Strain sold 85,943 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of C$84.71, for a total value of C$7,280,231.53. Also, Senior Officer Linda Dougherty bought 5,800 shares of the business’s stock in a transaction on Friday, November 15th. The stock was bought at an average price of C$84.83 per share, with a total value of C$492,014.00. Insiders own 0.03% of the company’s stock.

Sun Life Financial Company Profile

Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm.