Analysts Set Sun Life Financial Inc. (TSE:SLF) Target Price at C$87.00

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) has earned a consensus recommendation of “Moderate Buy” from the ten brokerages that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$87.00.

A number of brokerages have recently commented on SLF. CIBC decreased their price target on shares of Sun Life Financial from C$95.00 to C$94.00 and set an “outperform” rating on the stock in a report on Tuesday, February 25th. National Bankshares reduced their target price on Sun Life Financial from C$95.00 to C$93.00 and set an “outperform” rating on the stock in a research note on Thursday, February 13th. Scotiabank dropped their price target on Sun Life Financial from C$98.00 to C$94.00 in a research note on Friday, February 14th. Royal Bank of Canada set a C$82.00 price objective on Sun Life Financial and gave the company an “outperform” rating in a report on Monday, March 17th. Finally, National Bank Financial raised Sun Life Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th.

Sun Life Financial Stock Performance

Shares of SLF opened at C$82.28 on Friday. The stock has a 50-day moving average price of C$81.47 and a 200-day moving average price of C$81.46. The company has a market cap of C$47.00 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00. Sun Life Financial has a 12-month low of C$64.38 and a 12-month high of C$88.54.

Sun Life Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 4.08%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio is 48.87%.

About Sun Life Financial

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.