Sun Life Financial (TSE:SLF) Given New C$102.00 Price Target at Canadian Imperial Bank of Commerce

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective boosted by Canadian Imperial Bank of Commerce from C$95.00 to C$102.00 in a research report sent to investors on Friday morning,BayStreet.CA reports.

A number of other analysts also recently weighed in on SLF. Barclays increased their target price on shares of Sun Life Financial from C$84.00 to C$85.00 in a research report on Wednesday, April 8th. Jefferies Financial Group increased their target price on shares of Sun Life Financial from C$103.00 to C$115.00 in a research report on Friday, May 1st. Royal Bank Of Canada raised their price objective on shares of Sun Life Financial from C$83.00 to C$95.00 and gave the stock a “sector perform” rating in a research report on Friday, February 13th. TD raised their price objective on shares of Sun Life Financial from C$102.00 to C$107.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Scotiabank raised their price objective on shares of Sun Life Financial from C$93.00 to C$96.00 and gave the stock a “sector perform” rating in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$101.60.

Sun Life Financial Stock Performance

TSE:SLF opened at C$95.85 on Friday. The company has a market capitalization of C$53.11 billion, a PE ratio of 17.85, a P/E/G ratio of 1.33 and a beta of 0.73. The company has a 50 day simple moving average of C$90.61 and a two-hundred day simple moving average of C$87.40. Sun Life Financial has a fifty-two week low of C$77.38 and a fifty-two week high of C$101.15.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share for the quarter. The business had revenue of C$8.73 billion during the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.98%. Research analysts predict that Sun Life Financial will post 6.9230769 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.96 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend is Wednesday, May 27th. This represents a $3.84 annualized dividend and a dividend yield of 4.0%. Sun Life Financial’s payout ratio is 67.04%.

Sun Life Financial News Roundup

Here are the key news stories impacting Sun Life Financial this week:

• Positive Sentiment: Sun Life Financial announced a quarterly dividend of C$0.96 per share, up 4.3% from C$0.92 previously, which supports its income appeal for investors. Dividend announcement reference
• Positive Sentiment: CIBC raised its price target to C$102 from C$95, while BMO Capital Markets lifted its target to C$105 from C$99, signaling improved analyst confidence in the shares. Analyst rating update
• Positive Sentiment: TD increased its price target to C$107 and kept a buy rating, reinforcing expectations for further upside after the company’s latest earnings report. TD analyst update
• Neutral Sentiment: Sun Life reported quarterly earnings of C$1.89 per share on revenue of C$8.73 billion, with a net margin of 9.74% and return on equity of 14.68%, which appeared broadly in line with investor expectations. Q1 earnings snapshot
• Neutral Sentiment: Coverage also noted Sun Life’s expanding asset-management platform, which may help long-term growth but is not an immediate catalyst on its own. Asset management expansion article
• Negative Sentiment: National Bank Financial trimmed its price target slightly to C$108 from C$109, a minor change that suggests some caution despite maintaining an outperform rating. National Bank Financial update

Sun Life Financial Company Profile

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.