Sun Life Financial (TSE:SLF) Price Target Raised to C$89.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective upped by Jefferies Financial Group from C$81.00 to C$89.00 in a research note issued to investors on Wednesday, BayStreet.CA reports. Jefferies Financial Group currently has a buy rating on the financial services provider’s stock.

Other equities research analysts also recently issued research reports about the company. TD Securities decreased their price objective on Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a report on Tuesday, August 13th. Barclays set a C$76.00 price target on shares of Sun Life Financial and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Royal Bank of Canada raised their price objective on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Evercore lowered their target price on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Finally, National Bankshares lifted their price target 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. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$76.82.

Sun Life Financial Price Performance

Sun Life Financial stock opened at C$78.90 on Wednesday. The stock has a market capitalization of C$45.49 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.33 and a beta of 0.94. Sun Life Financial has a 52-week low of C$61.84 and a 52-week high of C$79.45. The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29. The stock’s 50 day moving average price is C$74.73 and its two-hundred day moving average price is C$70.99.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings results 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, equities analysts predict that Sun Life Financial will post 6.9230769 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s dividend payout ratio (DPR) is currently 61.36%.

Insider Buying and Selling

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. In related news, Senior Officer Daniel Fishbein sold 15,999 shares of the firm’s stock in a transaction that occurred on 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, Senior Officer Linda Dougherty sold 2,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total transaction of C$150,590.00. 0.03% of the stock is currently 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.