Sun Life Financial (TSE:SLF) Price Target Raised to C$95.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target hoisted by CIBC from C$93.00 to C$95.00 in a report released on Thursday,BayStreet.CA reports. CIBC currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts have also commented on the stock. Desjardins set a C$94.00 price target on shares of Sun Life Financial and gave the company a “buy” rating in a report on Thursday, December 18th. BMO Capital Markets dropped their price target on Sun Life Financial from C$99.00 to C$95.00 in a research report on Monday, November 10th. Royal Bank Of Canada cut shares of Sun Life Financial from a “moderate buy” rating to a “hold” rating in a report on Friday, November 7th. Jefferies Financial Group boosted their target price on Sun Life Financial from C$96.00 to C$98.00 in a research report on Monday, November 10th. Finally, Cibc Captl Mkts lowered shares of Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Sun Life Financial currently has a consensus rating of “Hold” and an average price target of C$91.56.

Sun Life Financial Price Performance

Shares of TSE SLF opened at C$87.40 on Thursday. The stock has a fifty day moving average of C$83.89 and a 200-day moving average of C$83.89. The stock has a market cap of C$48.40 billion, a PE ratio of 16.55, a price-to-earnings-growth ratio of 1.33 and a beta of 0.77. The company has a debt-to-equity ratio of 26.00, a quick ratio of 84,866.00 and a current ratio of 92.19. Sun Life Financial has a fifty-two week low of C$74.56 and a fifty-two week high of C$91.11.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its earnings results on Wednesday, November 5th. The financial services provider reported C$1.86 earnings per share for the quarter. Sun Life Financial had a return on equity of 15.69% and a net margin of 7.58%.The business had revenue of C$9.07 billion during the quarter. Equities research analysts anticipate that Sun Life Financial will post 6.9230769 earnings per share for the current year.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, November 26th. This represents a $3.68 dividend on an annualized basis and a dividend yield of 4.2%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.88. Sun Life Financial’s dividend payout ratio is 65.15%.

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.