Cormark Boosts Sun Life Financial (TSE:SLF) Price Target to C$85.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target raised by Cormark from C$82.00 to C$85.00 in a report published on Tuesday, BayStreet.CA reports.

A number of other equities analysts have also recently commented on SLF. TD Securities lifted their price objective on shares of Sun Life Financial from C$77.00 to C$81.00 in a research note on Tuesday. Barclays set a C$76.00 price target on shares of Sun Life Financial and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. Royal Bank of Canada lifted their price target on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Jefferies Financial Group lifted their price target on shares of Sun Life Financial from C$81.00 to C$89.00 and gave the stock a “buy” rating in a research note on Wednesday, October 16th. Finally, National Bankshares lifted their price target 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 Tuesday, August 13th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$81.00.

Sun Life Financial Stock Performance

Shares of TSE:SLF opened at C$79.94 on Tuesday. Sun Life Financial has a 52 week low of C$64.38 and a 52 week high of C$80.82. The stock has a market capitalization of C$46.08 billion, a P/E ratio of 15.14, a PEG ratio of 1.33 and a beta of 0.94. The firm has a fifty day simple moving average of C$76.93 and a two-hundred day simple moving average of C$71.57. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 EPS for the quarter, topping analysts’ consensus estimates of C$1.58 by C$0.13. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. The business had revenue of C$8.92 billion during the quarter, compared to analysts’ expectations of C$9.18 billion. On average, 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 disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, November 27th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 4.20%. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.81. Sun Life Financial’s payout ratio is 61.36%.

Insider Buying and Selling at Sun Life Financial

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$71.40, for a total value of C$1,142,323.80. In other news, Senior Officer Daniel Fishbein sold 15,999 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of C$71.40, for a total value of C$1,142,323.80. Also, Director Stephanie Coyles purchased 500 shares of Sun Life Financial stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately C$35,000. 0.03% of the stock is owned by corporate insiders.

About Sun Life Financial

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.