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

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective increased 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.

A number of other brokerages have also recently commented on SLF. TD Securities increased their target price on Sun Life Financial from C$77.00 to C$81.00 in a report on Tuesday, November 5th. Barclays increased their price objective on Sun Life Financial from C$76.00 to C$79.00 in a research note on Tuesday, November 5th. Evercore decreased their price objective on Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. CIBC upped their target price on shares of Sun Life Financial from C$80.00 to C$90.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Cormark increased their target price on shares of Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of C$81.36.

Sun Life Financial Price Performance

Shares of TSE SLF opened at C$82.46 on Wednesday. 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 fifty day moving average of C$77.46 and a 200 day moving average of C$71.84. The firm has a market cap 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 has a one year low of C$64.38 and a one year high of C$82.86.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its earnings results on Monday, August 12th. The financial services provider reported C$1.71 EPS for the quarter, topping analysts’ consensus estimates of C$1.58 by C$0.13. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. The business had revenue of C$8.92 billion during the quarter, compared to analysts’ expectations of C$9.18 billion. As a group, research analysts predict that Sun Life Financial will post 6.9230769 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The company 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 dividend of $0.84 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.81. This represents a $3.36 annualized dividend and a yield of 4.07%. The ex-dividend date is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) 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 that occurred 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. In other news, Senior Officer Linda Dougherty sold 2,000 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total value of C$150,590.00. Also, Director Stephanie Coyles purchased 500 shares of the stock in a transaction dated Thursday, August 15th. The shares were acquired at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the acquisition, the director now owns 500 shares in the company, valued at approximately C$35,000. 0.03% of the stock is currently owned by company 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.