Sun Life Financial (TSE:SLF) Price Target Raised to C$80.00 at CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target lifted by CIBC from C$77.00 to C$80.00 in a research note issued to investors on Tuesday, BayStreet.CA reports. The firm currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on SLF. Jefferies Financial Group increased their price objective on shares of Sun Life Financial from C$82.00 to C$83.00 and gave the company a buy rating in a research note on Wednesday, March 6th. National Bankshares raised their price objective on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the stock a sector perform rating in a research note on Friday, April 26th. Scotiabank upped their target price on Sun Life Financial from C$75.00 to C$76.00 in a research note on Tuesday, February 6th. BMO Capital Markets raised their price target on Sun Life Financial from C$70.00 to C$80.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, Evercore boosted their price objective on Sun Life Financial from C$76.00 to C$78.00 and gave the stock an outperform rating in a research note on Tuesday, January 23rd. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial has a consensus rating of Moderate Buy and a consensus price target of C$77.18.

Sun Life Financial Price Performance

SLF stock opened at C$71.75 on Tuesday. The firm has a 50 day moving average of C$72.40 and a 200-day moving average of C$69.71. The company has a market cap of C$41.79 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.25 and a beta of 0.96. The company has a current ratio of 6.81, a quick ratio of 84,866.00 and a debt-to-equity ratio of 78.47. Sun Life Financial has a 12-month low of C$61.84 and a 12-month high of C$74.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings data on Wednesday, February 7th. The financial services provider reported C$1.68 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.59 by C$0.09. The firm had revenue of C$18.68 billion during the quarter. Sun Life Financial had a return on equity of 13.98% and a net margin of 10.26%. As a group, equities analysts expect that Sun Life Financial will post 6.9036382 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Wednesday, February 28th were paid a dividend of $0.78 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.75. The ex-dividend date was Tuesday, February 27th. This represents a $3.12 annualized dividend and a yield of 4.35%. Sun Life Financial’s payout ratio is presently 59.32%.

Insiders Place Their Bets

In related news, Senior Officer Daniel Fishbein sold 16,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of C$74.45, for a total transaction of C$1,191,120.00. 0.03% of the stock is owned by corporate insiders.

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.