Sun Life Financial Inc (NYSE:SLF) (TSE:SLF) declared a quarterly dividend on Wednesday, February 12th, Zacks reports. Stockholders of record on Sunday, March 1st will be paid a dividend of 0.416 per share by the financial services provider on Tuesday, March 31st. This represents a $1.66 annualized dividend and a dividend yield of 3.34%. The ex-dividend date of this dividend is Thursday, February 27th.
Sun Life Financial has increased its dividend by an average of 7.2% annually over the last three years and has increased its dividend every year for the last 4 years. Sun Life Financial has a payout ratio of 39.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Sun Life Financial to earn $4.12 per share next year, which means the company should continue to be able to cover its $1.65 annual dividend with an expected future payout ratio of 40.0%.
Shares of NYSE:SLF traded up $0.71 during trading on Friday, hitting $49.89. The stock had a trading volume of 430,418 shares, compared to its average volume of 432,221. Sun Life Financial has a 12-month low of $34.78 and a 12-month high of $49.98. The stock has a market capitalization of $28.40 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.30 and a beta of 0.81. The stock has a 50-day simple moving average of $47.46 and a two-hundred day simple moving average of $44.53.
A number of equities analysts recently commented on the company. TD Securities reiterated a “buy” rating and issued a $72.00 price target on shares of Sun Life Financial in a research note on Thursday. Royal Bank of Canada downgraded shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating and set a $67.00 target price on the stock. in a research note on Monday, December 2nd. National Bank Financial downgraded shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 7th. Cfra boosted their target price on shares of Sun Life Financial from $48.00 to $52.00 and gave the company a “hold” rating in a research note on Friday. Finally, Canaccord Genuity boosted their target price on shares of Sun Life Financial from $56.00 to $58.00 in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $59.18.
Sun Life Financial Company Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.
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