Sun Life Financial (TSE:SLF) Given New C$90.00 Price Target at CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target increased by CIBC from C$80.00 to C$90.00 in a research report sent to investors on Wednesday, BayStreet.CA reports. CIBC currently has an outperform rating on the financial services provider’s stock.

Several other research firms also recently commented on SLF. Barclays set a C$76.00 price objective on shares of Sun Life Financial and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. Evercore lowered their price objective on shares of Sun Life Financial from C$76.00 to C$75.00 in a research note on Thursday, July 11th. Scotiabank lifted their price objective on shares of Sun Life Financial from C$73.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Wednesday. TD Securities lowered their price objective on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Finally, Royal Bank of Canada lifted their price objective 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$78.82.

Sun Life Financial Price Performance

Shares of SLF opened at C$78.61 on Wednesday. The company has a market cap of C$45.32 billion, a price-to-earnings ratio of 14.89, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. Sun Life Financial has a twelve month low of C$62.75 and a twelve month high of C$79.45. 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. The company has a 50 day moving average of C$76.45 and a two-hundred day moving average of C$71.35.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its earnings results 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. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. The company had revenue of C$8.92 billion during the quarter, compared to the consensus estimate of C$9.18 billion. As a group, analysts predict that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Sun Life Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Wednesday, August 28th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $3.24 dividend on an annualized basis and a yield of 4.12%. Sun Life Financial’s dividend payout ratio is presently 61.36%.

Insider Activity at Sun Life Financial

In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of Sun Life Financial stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. Also, Senior Officer Daniel Fishbein sold 15,999 shares of Sun Life Financial stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total transaction 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.