Sun Life Financial (TSE:SLF) Given New C$85.00 Price Target at Cormark

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective lifted by Cormark from C$82.00 to C$85.00 in a research note released on Tuesday morning,BayStreet.CA reports. Cormark also issued estimates for Sun Life Financial’s FY2024 earnings at $6.76 EPS and FY2025 earnings at $7.50 EPS.

Several other research firms have also commented on SLF. Scotiabank raised their price objective on shares of Sun Life Financial from C$73.00 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. National Bankshares raised their price target 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 report on Tuesday, August 13th. CIBC upped their price objective on Sun Life Financial from C$80.00 to C$90.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. TD Securities lifted their target price on Sun Life Financial from C$77.00 to C$81.00 in a report on Tuesday. Finally, Royal Bank of Canada upped their price target on Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Sun Life Financial has an average rating of “Moderate Buy” and an average price target of C$81.36.

Sun Life Financial Stock Performance

TSE:SLF opened at C$82.63 on Tuesday. Sun Life Financial has a fifty-two week low of C$64.38 and a fifty-two week high of C$82.86. The company has a 50 day moving average price of C$77.10 and a 200 day moving average price of C$71.66. The stock has a market capitalization of C$47.64 billion, a P/E ratio of 15.60, a PEG 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 (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of C$9.18 billion. Equities research analysts forecast that Sun Life Financial will post 6.9230769 EPS for the current year.

Sun Life Financial Increases Dividend

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

Insider Buying and Selling

In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of the stock in a transaction that occurred 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 news, Senior Officer Linda Dougherty sold 2,000 shares of the company’s 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, Director Stephanie Coyles bought 500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of C$70.00 per share, for a total transaction of C$35,000.00. Following the completion of the transaction, the director now directly owns 500 shares in the company, valued at approximately C$35,000. 0.03% of the stock is 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.