Sun Life Financial (TSE:SLF) Price Target Lowered to C$90.00 at Desjardins

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective cut by Desjardins from C$95.00 to C$90.00 in a report released on Monday morning,BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

SLF has been the subject of several other research reports. Scotiabank upgraded shares of Sun Life Financial to a “hold” rating in a research report on Thursday, July 31st. TD Securities boosted their price objective on shares of Sun Life Financial from C$83.00 to C$86.00 and gave the stock a “hold” rating in a research report on Friday, May 9th. Royal Bank Of Canada reduced their price objective on shares of Sun Life Financial from C$88.00 to C$84.00 in a research report on Monday. Jefferies Financial Group reduced their price target on shares of Sun Life Financial from C$96.00 to C$90.00 in a research report on Monday, April 21st. Finally, National Bankshares downgraded shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from C$93.00 to C$87.00 in a research report on Friday, August 8th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sun Life Financial has an average rating of “Hold” and a consensus price target of C$86.67.

Sun Life Financial Stock Up 0.5%

Shares of TSE:SLF opened at C$79.79 on Monday. The company has a market capitalization of C$45.58 billion, a PE ratio of 12.03, a P/E/G ratio of 1.33 and a beta of 0.94. 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. Sun Life Financial has a twelve month low of C$69.40 and a twelve month high of C$91.11. The firm has a 50 day simple moving average of C$86.07 and a 200-day simple moving average of C$83.45.

Sun Life Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Wednesday, August 27th will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Wednesday, August 27th. Sun Life Financial’s payout ratio is currently 48.87%.

Insider Activity

In other news, Director Kevin Strain acquired 3,850 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were bought at an average cost of C$89.10 per share, with a total value of C$343,035.00. Also, Senior Officer Jacques Jr. Goulet sold 44,199 shares of the business’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of C$88.17, for a total transaction of C$3,897,025.83. Over the last quarter, insiders sold 161,909 shares of company stock valued at $14,216,427. 0.03% of the stock is 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.