Sun Life Financial (TSE:SLF) Price Target Raised to C$82.00 at Royal Bank of Canada

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective lifted by Royal Bank of Canada from C$78.00 to C$82.00 in a research report released on Wednesday morning, BayStreet.CA reports.

Several other equities analysts also recently commented on the stock. National Bankshares increased their price objective 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 note on Tuesday, August 13th. Jefferies Financial Group increased their price target on Sun Life Financial from C$81.00 to C$89.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. TD Securities boosted their price objective on Sun Life Financial from C$77.00 to C$81.00 in a research report on Tuesday. Barclays increased their target price on Sun Life Financial from C$76.00 to C$79.00 in a research report on Tuesday. Finally, Scotiabank lifted their price target on 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of C$81.36.

Sun Life Financial Price Performance

Sun Life Financial stock opened at C$82.08 on Wednesday. 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 has a 52 week low of C$64.38 and a 52 week high of C$82.27. The stock has a market capitalization of C$47.32 billion, a P/E ratio of 15.55, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The stock has a fifty day moving average of C$77.10 and a 200-day moving average of C$71.66.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its earnings results on Monday, August 12th. The financial services provider reported C$1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.58 by C$0.13. The firm had revenue of C$8.92 billion for the quarter, compared to analysts’ expectations of C$9.18 billion. Sun Life Financial had a return on equity of 13.65% and a net margin of 9.90%. On average, sell-side analysts expect that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. The ex-dividend date is Wednesday, November 27th. This represents a $3.36 annualized dividend and a dividend yield of 4.09%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.81. Sun Life Financial’s dividend payout ratio (DPR) is presently 61.36%.

Insider Activity

In related news, Director Stephanie Coyles acquired 500 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of C$70.00 per share, for a total transaction of C$35,000.00. Following the purchase, the director now owns 500 shares in the company, valued at C$35,000. In other Sun Life Financial news, Director Stephanie Coyles acquired 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the acquisition, the director now owns 500 shares of the company’s stock, valued at C$35,000. Also, Senior Officer Linda Dougherty sold 2,000 shares of the 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. 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.