Sun Life Financial (TSE:SLF) Price Target Raised to C$80.00 at CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target boosted by CIBC from C$77.00 to C$80.00 in a research report sent to investors on Tuesday morning, BayStreet.CA reports. They currently have an outperform rating on the financial services provider’s stock.

SLF has been the subject of several other reports. Scotiabank upped their price objective on shares of Sun Life Financial from C$75.00 to C$76.00 in a report on Tuesday, February 6th. BMO Capital Markets upped their price objective on shares of Sun Life Financial from C$70.00 to C$80.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Evercore upped their price objective on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an outperform rating in a report on Tuesday, January 23rd. TD Securities upped their price objective on shares of Sun Life Financial from C$73.00 to C$75.00 and gave the stock a hold rating in a report on Friday, April 12th. Finally, Desjardins increased their price target on shares of Sun Life Financial from C$75.00 to C$77.00 and gave the company a buy rating in a report on Friday, February 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of C$77.18.

Sun Life Financial Stock Performance

SLF stock opened at C$70.29 on Tuesday. The company has a quick ratio of 84,866.00, a current ratio of 6.81 and a debt-to-equity ratio of 78.47. The company has a market capitalization of C$40.94 billion, a price-to-earnings ratio of 13.36, a P/E/G ratio of 1.25 and a beta of 0.96. Sun Life Financial has a 12 month low of C$61.84 and a 12 month high of C$74.94. The firm has a 50 day moving average of C$72.49 and a two-hundred day moving average of C$69.69.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its earnings results on Wednesday, February 7th. The financial services provider reported C$1.68 EPS for the quarter, topping the consensus estimate of C$1.59 by C$0.09. The company had revenue of C$18.68 billion during the quarter. Sun Life Financial had a net margin of 10.26% and a return on equity of 13.98%. As a group, equities analysts anticipate that Sun Life Financial will post 6.9036382 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were paid a $0.78 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Tuesday, February 27th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.44%. Sun Life Financial’s dividend payout ratio is currently 59.32%.

Insider Activity

In other news, Senior Officer Daniel Fishbein sold 16,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of C$74.45, for a total value of C$1,191,120.00. Corporate 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.