Sun Life Financial (TSE:SLF) Price Target Increased to C$77.00 by Analysts at CIBC

Sun Life Financial (TSE:SLFFree Report) (NYSE:SLF) had its target price hoisted by CIBC from C$75.00 to C$77.00 in a research note issued to investors on Friday, BayStreet.CA reports. CIBC currently has an outperform rating on the financial services provider’s stock.

A number of other analysts have also issued reports on the stock. Evercore raised their target price on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an outperform rating in a research report on Tuesday, January 23rd. TD Securities lifted their price objective on Sun Life Financial from C$62.00 to C$73.00 and gave the company a hold rating in a research report on Thursday, February 8th. Cormark increased their target price on Sun Life Financial from C$72.00 to C$73.00 in a research report on Tuesday, November 14th. BMO Capital Markets lifted their price target on Sun Life Financial from C$70.00 to C$80.00 and gave the company an outperform rating in a report on Thursday, January 25th. Finally, Desjardins set a C$73.00 price objective on shares of Sun Life Financial and gave the stock a buy rating in a report on Tuesday, December 19th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of C$75.91.

Check Out Our Latest Research Report on SLF

Sun Life Financial Trading Down 0.6 %

Shares of SLF opened at C$71.07 on Friday. Sun Life Financial has a 1-year low of C$60.01 and a 1-year high of C$71.64. The stock has a market cap of C$41.55 billion, a price-to-earnings ratio of 13.51, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97. The firm has a 50 day simple moving average of C$68.94 and a 200-day simple moving average of C$67.40. The company has a debt-to-equity ratio of 78.47, a current ratio of 1.78 and a quick ratio of 84,866.00.

Sun Life Financial (TSE:SLFGet Free Report) (NYSE:SLF) last announced its earnings results on Monday, November 13th. The financial services provider reported C$1.59 earnings per share for the quarter, beating the consensus estimate of C$1.58 by C$0.01. Sun Life Financial had a net margin of 10.27% and a return on equity of 13.98%. The firm had revenue of C$2.44 billion during the quarter. Equities analysts forecast that Sun Life Financial will post 6.7808349 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, February 28th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Tuesday, February 27th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.75. Sun Life Financial’s payout ratio is currently 59.32%.

Insider Activity

In other Sun Life Financial news, Director Kevin Strain sold 15,986 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of C$69.69, for a total value of C$1,114,000.40. In other news, Senior Officer Jacques Jr. Goulet sold 124,639 shares of Sun Life Financial stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of C$70.07, for a total value of C$8,732,956.17. Also, Director Kevin Strain sold 15,986 shares of Sun Life Financial stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of C$69.69, for a total value of C$1,114,000.40. Insiders own 0.02% of the company’s stock.

Sun Life Financial Company Profile

(Get Free Report)

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.

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