Sun Life Financial (TSE:SLF) Price Target Raised to C$81.00 at TD Securities

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target lifted by TD Securities from C$77.00 to C$81.00 in a research report sent to investors on Tuesday,BayStreet.CA reports.

A number of other research firms have also recently commented on SLF. Evercore decreased their target price on shares of Sun Life Financial from C$76.00 to C$75.00 in a research note on Thursday, July 11th. Jefferies Financial Group raised their price objective on shares of Sun Life Financial from C$81.00 to C$89.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Barclays set a C$76.00 target price on shares of Sun Life Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. Royal Bank of Canada raised their price target on Sun Life Financial from C$76.00 to C$78.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Scotiabank upped their price objective on Sun Life Financial from C$73.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Sun Life Financial has a consensus rating of “Moderate Buy” and an average target price of C$81.36.

Sun Life Financial Trading Up 0.7 %

Shares of Sun Life Financial stock opened at C$82.63 on Tuesday. Sun Life Financial has a 1-year low of C$64.38 and a 1-year high of C$82.86. The company’s fifty day simple moving average is C$77.10 and its 200-day simple moving average is C$71.66. 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. The stock has a market capitalization of C$47.64 billion, a PE ratio of 15.60, a P/E/G ratio of 1.33 and a beta of 0.94.

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

Sun Life Financial Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.81. This represents a $3.36 dividend on an annualized basis and a yield of 4.07%. Sun Life Financial’s dividend payout ratio is presently 61.36%.

Insider Buying and Selling at Sun Life Financial

In other news, Senior Officer Linda Dougherty sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total transaction of C$150,590.00. In related news, Director Stephanie Coyles acquired 500 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of C$70.00 per share, with a total value of C$35,000.00. Following the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately C$35,000. Also, Senior Officer Linda Dougherty sold 2,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total value of C$150,590.00. 0.03% of the stock is currently owned by company 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.