Sun Life Financial (TSE:SLF) Price Target Raised to C$104.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective hoisted by TD Securities from C$99.00 to C$104.00 in a research note released on Wednesday,BayStreet.CA reports.

SLF has been the topic of several other reports. Desjardins set a C$94.00 target price on shares of Sun Life Financial and gave the company a “buy” rating in a research report on Thursday, December 18th. Royal Bank Of Canada lowered Sun Life Financial from a “moderate buy” rating to a “hold” rating in a research note on Friday, November 7th. CIBC raised their price objective on Sun Life Financial from C$93.00 to C$95.00 and gave the company a “neutral” rating in a research note on Thursday, January 8th. Barclays cut their target price on Sun Life Financial from C$84.00 to C$83.00 in a research report on Friday, January 9th. Finally, UBS Group upgraded Sun Life Financial to a “hold” rating in a report on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of C$92.11.

Sun Life Financial Stock Up 0.3%

Shares of SLF opened at C$87.47 on Wednesday. The company has a debt-to-equity ratio of 26.00, a current ratio of 92.19 and a quick ratio of 84,866.00. The stock has a market capitalization of C$48.44 billion, a price-to-earnings ratio of 16.57, a price-to-earnings-growth ratio of 1.33 and a beta of 0.77. Sun Life Financial has a 1 year low of C$74.56 and a 1 year high of C$91.11. The business’s 50 day simple moving average is C$84.05 and its 200-day simple moving average is C$83.81.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings results on Wednesday, November 5th. The financial services provider reported C$1.86 earnings per share for the quarter. The company had revenue of C$9.07 billion for the quarter. Sun Life Financial had a net margin of 7.58% and a return on equity of 15.69%. As a group, equities analysts expect that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.92 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.88. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Wednesday, November 26th. Sun Life Financial’s payout ratio is presently 65.15%.

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. Sun Life generates about a third of its profit from asset-management operations.