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

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price upped by Scotiabank from C$73.00 to C$85.00 in a research report report published on Wednesday morning, BayStreet.CA reports. They currently have an outperform rating on the financial services provider’s stock.

SLF has been the topic of a number of other reports. TD Securities reduced their target price on shares of 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. National Bankshares increased 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 report on Tuesday, August 13th. Evercore cut their target price on Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Barclays set a C$76.00 price target on Sun Life Financial and gave the company an “equal weight” rating in a research note on Thursday, September 5th. Finally, Jefferies Financial Group lifted their price objective on 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$78.82.

Sun Life Financial Trading Up 0.6 %

TSE SLF opened at C$77.63 on Wednesday. The company has a market cap of C$44.75 billion, a price-to-earnings ratio of 14.70, 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$64.36 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 business’s fifty day moving average is C$76.68 and its 200 day moving average is C$71.45.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings results on Monday, August 12th. The financial services provider reported C$1.71 EPS for the quarter, beating analysts’ consensus estimates of C$1.58 by C$0.13. Sun Life Financial had a return on equity of 13.65% and a net margin of 9.90%. The firm had revenue of C$8.92 billion for the quarter, compared to analyst estimates of C$9.18 billion. As a group, sell-side analysts expect that Sun Life Financial will post 6.9230769 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Wednesday, August 28th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Wednesday, August 28th. Sun Life Financial’s payout ratio is 61.36%.

Insider Transactions at Sun Life Financial

In related news, Director Stephanie Coyles purchased 500 shares of the firm’s 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 completion of the purchase, the director now owns 500 shares in the company, valued at approximately C$35,000. In other news, Director Stephanie Coyles bought 500 shares of the stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the transaction, the director now directly owns 500 shares of the company’s stock, valued at C$35,000. 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. Insiders own 0.03% of the company’s stock.

Sun Life Financial Company Profile

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.