Sun Life Financial (TSE:SLF) Price Target Raised to C$82.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective lifted by Barclays from C$79.00 to C$82.00 in a report released on Thursday morning,BayStreet.CA reports.

Several other equities research analysts also recently commented on the company. Royal Bank of Canada boosted their target price on Sun Life Financial from C$78.00 to C$82.00 in a report on Wednesday, November 6th. Cormark upped their price target on shares of Sun Life Financial from C$82.00 to C$85.00 in a research note on Tuesday, November 5th. National Bankshares raised their price objective on shares of 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. TD Securities upped their target price on shares of Sun Life Financial from C$81.00 to C$87.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, Scotiabank raised their price target on shares of Sun Life Financial from C$85.00 to C$96.00 in a research report on Thursday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Sun Life Financial has an average rating of “Moderate Buy” and an average target price of C$84.18.

Sun Life Financial Price Performance

Shares of SLF opened at C$84.88 on Thursday. The firm’s 50-day simple moving average is C$78.56 and its two-hundred day simple moving average is C$72.32. Sun Life Financial has a fifty-two week low of C$64.38 and a fifty-two week high of C$86.39. The stock has a market cap of C$48.93 billion, a PE ratio of 16.08, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. 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.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date is Wednesday, November 27th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.81. Sun Life Financial’s payout ratio is 61.36%.

Insider Activity

In other news, Director Kevin Strain sold 85,943 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of C$84.71, for a total transaction of C$7,280,231.53. Also, Senior Officer Linda Dougherty purchased 5,800 shares of the stock in a transaction on Friday, November 15th. The shares were purchased at an average cost of C$84.83 per share, for a total transaction of C$492,014.00. 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.