Sun Life Financial (TSE:SLF) Price Target Raised to C$121.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective boosted by TD from C$107.00 to C$121.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on the stock. Evercore cut shares of Sun Life Financial from an “outperform” rating to a “hold” rating and set a C$111.00 price target on the stock. in a report on Monday, July 13th. Canadian Imperial Bank of Commerce upped their price objective on shares of Sun Life Financial from C$102.00 to C$116.00 in a research report on Wednesday, July 15th. Jefferies Financial Group upped their target price on Sun Life Financial from C$103.00 to C$115.00 in a research note on Friday, May 1st. Desjardins set a C$101.00 target price on shares of Sun Life Financial and gave the stock a “buy” rating in a report on Friday, April 17th. Finally, Scotiabank raised their price objective on Sun Life Financial from C$98.00 to C$111.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$109.36.

Sun Life Financial Stock Performance

TSE SLF opened at C$114.76 on Tuesday. The firm has a market capitalization of C$63.61 billion, a P/E ratio of 21.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.79. The firm’s fifty day moving average price is C$107.45 and its two-hundred day moving average price is C$96.12. Sun Life Financial has a 1 year low of C$77.38 and a 1 year high of C$115.45. The company has a current ratio of 6.03, a quick ratio of 84,866.00 and a debt-to-equity ratio of 32.51.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share (EPS) for the quarter. The business had revenue of C$8.73 billion during the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.89%. As a group, research analysts anticipate that Sun Life Financial will post 6.9230769 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Wednesday, May 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. Sun Life Financial’s dividend payout ratio (DPR) is currently 67.04%.

Insiders Place Their Bets

In other news, insider Linda Dougherty sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$101.40, for a total transaction of C$354,900.00. Also, insider Helena Janina Pagano sold 17,283 shares of the business’s stock in a transaction on Monday, May 25th. The shares were sold at an average price of C$101.32, for a total transaction of C$1,751,113.56. Following the sale, the insider owned 228 shares of the company’s stock, valued at C$23,100.96. This trade represents a 98.70% decrease in their position. In the last three months, insiders sold 380,998 shares of company stock valued at $38,271,605. 0.03% of the stock is currently owned by corporate insiders.

About Sun Life Financial

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. Sun Life generates about a third of its profit from asset-management operations.