Sun Life Financial (TSE:SLF) Price Target Raised to C$131.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective hoisted by Jefferies Financial Group from C$115.00 to C$131.00 in a research report report published on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Several other research analysts have also recently issued reports on the stock. National Bank Financial decreased their target price on shares of Sun Life Financial from C$109.00 to C$108.00 and set an “outperform” rating for the company in a report on Thursday, May 7th. BMO Capital Markets increased their price target on shares of Sun Life Financial from C$99.00 to C$105.00 in a report on Friday, May 8th. Barclays raised their price target on shares of Sun Life Financial from C$84.00 to C$85.00 in a research report on Wednesday, April 8th. Canadian Imperial Bank of Commerce upped their price objective on Sun Life Financial from C$102.00 to C$116.00 in a research report on Wednesday, July 15th. Finally, Desjardins set a C$101.00 target price on Sun Life Financial and gave the company a “buy” rating in a research note on Friday, April 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of C$109.36.

Sun Life Financial Price Performance

Shares of TSE:SLF opened at C$114.76 on Tuesday. Sun Life Financial has a 1-year low of C$77.38 and a 1-year high of C$115.45. The company has a debt-to-equity ratio of 32.51, a current ratio of 6.03 and a quick ratio of 84,866.00. The business has a fifty day moving average price of C$107.45 and a 200-day moving average price of C$96.12. The company has a market capitalization of C$63.61 billion, a PE ratio of 21.37, a PEG ratio of 1.33 and a beta of 0.79.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share (EPS) for the quarter. The firm had revenue of C$8.73 billion during the quarter. Sun Life Financial had a return on equity of 12.89% and a net margin of 9.12%. As a group, equities analysts expect that Sun Life Financial will post 6.9230769 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Tuesday, June 30th were issued a dividend of $0.96 per share. The ex-dividend date of this dividend was Wednesday, May 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. This represents a $3.84 annualized dividend and a dividend yield of 3.3%. Sun Life Financial’s dividend payout ratio is presently 67.04%.

Insider Activity at Sun Life Financial

In other Sun Life Financial news, insider Helena Janina Pagano sold 17,283 shares of Sun Life Financial stock in a transaction that occurred on Monday, May 25th. The shares were sold at an average price of C$101.32, for a total value of C$1,751,113.56. Following the completion of the sale, the insider owned 228 shares of the company’s stock, valued at approximately C$23,100.96. The trade was a 98.70% decrease in their position. Also, insider Melissa Jane Kennedy sold 7,366 shares of the business’s stock in a transaction on Monday, May 25th. The shares were sold at an average price of C$101.49, for a total transaction of C$747,575.34. Following the sale, the insider owned 13,916 shares of the company’s stock, valued at approximately C$1,412,334.84. This represents a 34.61% decrease in their ownership of the stock. Insiders have sold 380,998 shares of company stock valued at $38,271,605 over the last quarter. 0.03% of the stock is owned by company insiders.

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.