Sun Life Financial (TSE:SLF) Price Target Lowered to C$94.00 at CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price reduced by CIBC from C$95.00 to C$94.00 in a research note released on Tuesday,BayStreet.CA reports. CIBC currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the company. Jefferies Financial Group increased their target price on Sun Life Financial from C$90.00 to C$94.00 in a research note on Thursday, November 14th. Barclays boosted their price target on Sun Life Financial from C$82.00 to C$87.00 in a report on Monday, January 6th. TD Securities lifted their price target on shares of Sun Life Financial from C$81.00 to C$87.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Royal Bank of Canada increased their price objective on Sun Life Financial from C$78.00 to C$82.00 in a report on Wednesday, November 6th. Finally, Cormark upgraded Sun Life Financial from a “hold” rating to a “moderate buy” rating in a report on Thursday, February 13th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of C$87.00.

Sun Life Financial Trading Up 0.7 %

Shares of TSE SLF opened at C$79.16 on Tuesday. The company has a 50-day moving average of C$83.30 and a two-hundred day moving average of C$80.09. Sun Life Financial has a 1-year low of C$64.38 and a 1-year high of C$88.54. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00. The company has a market cap of C$45.22 billion, a PE ratio of 11.94, a P/E/G ratio of 1.33 and a beta of 0.94.

Sun Life Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $3.36 annualized dividend and a yield of 4.24%. Sun Life Financial’s payout ratio is 48.87%.

Sun Life Financial Company Profile

Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm.