Sun Life Financial (TSE:SLF) Price Target Raised to C$98.00 at Barclays

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective upped by Barclays from C$96.00 to C$98.00 in a research note released on Friday morning,BayStreet.CA reports.

SLF has been the subject of several other reports. Desjardins set a C$101.00 price target on shares of Sun Life Financial and gave the stock a “buy” rating in a report on Friday, April 17th. National Bank Financial lifted their price objective on Sun Life Financial from C$108.00 to C$125.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Canadian Imperial Bank of Commerce boosted their target price on Sun Life Financial from C$102.00 to C$116.00 in a research report on Wednesday, July 15th. Jefferies Financial Group increased their target price on Sun Life Financial from C$115.00 to C$131.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. Finally, TD increased their target price on Sun Life Financial from C$107.00 to C$121.00 and gave the stock a “buy” rating in a research note on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of C$110.82.

Sun Life Financial Stock Performance

Shares of SLF opened at C$114.25 on Friday. The company has a debt-to-equity ratio of 32.51, a quick ratio of 84,866.00 and a current ratio of 6.03. The stock has a market capitalization of C$63.33 billion, a P/E ratio of 21.28, a P/E/G ratio of 1.33 and a beta of 0.80. The company’s fifty day moving average is C$110.98 and its two-hundred day moving average is C$98.29. Sun Life Financial has a 1 year low of C$77.38 and a 1 year high of C$118.99.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings data on Thursday, August 6th. The financial services provider reported C$2.02 EPS for the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.89%. The company had revenue of C$9.05 billion during the quarter. On average, sell-side analysts predict that Sun Life Financial will post 6.9230769 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Tuesday, June 30th were paid a $0.96 dividend. This represents a $3.84 annualized dividend and a dividend yield of 3.4%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.92. The ex-dividend date was Wednesday, May 27th. Sun Life Financial’s dividend payout ratio (DPR) is 67.04%.

Insider Transactions at Sun Life Financial

In other Sun Life Financial news, insider Manjit Singh sold 188,312 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of C$103.20, for a total value of C$19,433,798.40. Following the completion of the transaction, the insider directly owned 547 shares of the company’s stock, valued at approximately C$56,450.40. This trade represents a 99.71% decrease in their ownership of the stock. Also, insider Linda Dougherty sold 3,500 shares of the stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$101.40, for a total transaction of C$354,900.00. Over the last three months, insiders have sold 380,998 shares of company stock valued at $38,271,605. 0.03% of the stock is owned by company insiders.

More Sun Life Financial News

Here are the key news stories impacting Sun Life Financial this week:

• Positive Sentiment: Q2 profit more than doubled year over year. Sun Life reported approximately C$1 billion in second-quarter profit, up from C$716 million a year earlier. The company also delivered C$2.02 in EPS on C$9.05 billion of revenue, supporting the case for improving operating performance. Sun Life Financial reports $1B in Q2 profit, rising from $716M last year
• Positive Sentiment: TD raised its price target and maintained a bullish stance. TD increased its target for Sun Life from C$121 to C$124 and assigned a “buy” rating, implying further upside based on the cited reference price. Sun Life Financial analyst ratings
• Neutral Sentiment: Preferred-share dividends were declared. Sun Life announced dividends of C$0.2781 on its Series 4 preferred shares and $0.1854 on its Series A-10R preferred shares. These payments signal continued capital-distribution capacity, although they do not directly change the value of the common shares. Sun Life Series 4 preferred dividend Sun Life Series A-10R preferred dividend
• Neutral Sentiment: Brokerage sentiment remains favorable but not unanimous. Analysts collectively characterize SLF as a “Moderate Buy,” indicating generally positive expectations while leaving room for valuation or execution concerns. Sun Life Financial receives Moderate Buy recommendation
• Negative Sentiment: Barclays’ target remains below the market price. Although Barclays raised its target from C$96 to C$98, the target still indicates substantial downside, contrasting with TD’s more optimistic outlook and potentially weighing on sentiment. Sun Life Financial Barclays price target

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.