Sun Life Financial (TSE:SLF) Given a C$76.00 Price Target at Barclays

Barclays set a C$76.00 target price on Sun Life Financial (TSE:SLF) (NYSE:SLF) in a research report sent to investors on Thursday morning, BayStreet.CA reports. The firm currently has an equal weight rating on the financial services provider’s stock.

SLF has been the subject of a number of other reports. BMO Capital Markets decreased their price objective on shares of Sun Life Financial from C$80.00 to C$79.00 and set an outperform rating for the company in a report on Monday, May 13th. Jefferies Financial Group upped their price target on Sun Life Financial from C$78.00 to C$81.00 and gave the stock a buy rating in a research note on Wednesday, August 14th. National Bankshares raised their price objective on Sun Life Financial from C$72.00 to C$73.00 and gave the company a sector perform rating in a research note on Tuesday, August 13th. Scotiabank decreased their target price on Sun Life Financial from C$76.00 to C$73.00 and set an outperform rating for the company in a research report on Monday, May 13th. Finally, TD Securities lowered their price target on Sun Life Financial from C$73.00 to C$72.00 and set a hold rating on the stock in a report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Sun Life Financial has a consensus rating of Moderate Buy and an average target price of C$76.09.

Sun Life Financial Stock Down 0.5 %

SLF opened at C$74.50 on Thursday. The company has a market capitalization of C$43.03 billion, a PE ratio of 14.11, a price-to-earnings-growth ratio of 1.25 and a beta of 0.93. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00. Sun Life Financial has a fifty-two week low of C$61.84 and a fifty-two week high of C$75.23. The business has a 50-day moving average of C$69.40 and a 200-day moving average of C$70.29.

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 earnings per share for the quarter, beating the consensus estimate of C$1.58 by C$0.13. The firm had revenue of C$8.92 billion for the quarter, compared to analyst estimates of C$9.18 billion. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. Equities research analysts forecast that Sun Life Financial will post 6.642596 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th will be given a $0.81 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $3.24 annualized dividend and a dividend yield of 4.35%. Sun Life Financial’s dividend payout ratio is 61.36%.

Insider Buying and Selling

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