Sun Life Financial (TSE:SLF) Price Target Raised to C$87.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective raised by TD Securities from C$81.00 to C$87.00 in a research report sent to investors on Thursday morning,BayStreet.CA reports. They currently have a hold rating on the financial services provider’s stock.

A number of other analysts also recently weighed in on SLF. Barclays lifted their price target on Sun Life Financial from C$76.00 to C$79.00 in a research note on Tuesday, November 5th. Royal Bank of Canada upped their price target on shares of Sun Life Financial from C$78.00 to C$82.00 in a research note on Wednesday, November 6th. Cormark raised their price objective on shares of Sun Life Financial from C$82.00 to C$85.00 in a research note on Tuesday, November 5th. National Bankshares boosted their price objective on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 13th. Finally, CIBC increased their target price on shares of Sun Life Financial from C$90.00 to C$96.00 in a report on Wednesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus 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. Sun Life Financial has a twelve month low of C$64.38 and a twelve month high of C$86.39. The stock’s 50 day moving average is C$78.56 and its two-hundred day moving average is C$72.32. The firm has a market capitalization of C$48.93 billion, a PE ratio of 16.08, a P/E/G ratio of 1.33 and a beta of 0.94. The company has a current ratio of 65.29, a quick ratio of 84,866.00 and a debt-to-equity ratio of 53.77.

Sun Life Financial Increases Dividend

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

Insider Transactions at Sun Life Financial

In other Sun Life Financial news, Director Kevin Strain sold 85,943 shares of Sun Life Financial stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of C$84.71, for a total value of C$7,280,231.53. Also, Senior Officer Linda Dougherty purchased 5,800 shares of the business’s stock in a transaction on Friday, November 15th. The stock was acquired at an average price of C$84.83 per share, with a total value of C$492,014.00. Insiders own 0.03% of the company’s stock.

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.