Scotiabank Issues Positive Forecast for Sun Life Financial (TSE:SLF) Stock Price

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

SLF has been the topic of a number of other reports. National Bankshares boosted their price target on shares of 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. Cormark boosted their target price on Sun Life Financial from C$82.00 to C$85.00 in a report on Tuesday, November 5th. TD Securities increased their price target on Sun Life Financial from C$81.00 to C$87.00 and gave the stock a “hold” rating in a research report on Thursday. Jefferies Financial Group lifted their price objective on Sun Life Financial from C$81.00 to C$89.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Finally, CIBC boosted their price objective on Sun Life Financial from C$90.00 to C$96.00 in a research note on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Sun Life Financial has a consensus rating of “Moderate Buy” and a consensus price target of C$84.18.

Sun Life Financial Stock Down 1.2 %

Shares of TSE:SLF opened at C$84.88 on Thursday. The company’s fifty day moving average is C$78.56 and its 200-day moving average is C$72.32. 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. Sun Life Financial has a 52 week low of C$64.38 and a 52 week high of C$86.39. The company has a market capitalization of C$48.93 billion, a PE ratio of 16.08, a P/E/G ratio of 1.33 and a beta of 0.94.

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 Tuesday, December 31st will be paid a dividend of $0.84 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $3.36 annualized dividend and a yield of 3.96%. 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 Sun Life Financial stock in a transaction dated 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 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 value of C$7,280,231.53. Insiders own 0.03% of the company’s stock.

Sun Life Financial Company Profile

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.