Royal Bank of Canada Increases Sun Life Financial (TSE:SLF) Price Target to C$77.00

Sun Life Financial (TSE:SLFFree Report) (NYSE:SLF) had its target price upped by Royal Bank of Canada from C$76.00 to C$77.00 in a research note published on Friday, BayStreet.CA reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other equities research analysts also recently commented on the stock. CIBC upgraded shares of Sun Life Financial from a neutral rating to an outperform rating and raised their price objective for the company from C$73.00 to C$75.00 in a research report on Wednesday, January 31st. National Bankshares increased their price target on shares of Sun Life Financial from C$71.00 to C$72.00 and gave the company a sector perform rating in a report on Tuesday, January 23rd. Cormark upped their target price on shares of Sun Life Financial from C$72.00 to C$73.00 in a research report on Tuesday, November 14th. Scotiabank boosted their price target on Sun Life Financial from C$75.00 to C$76.00 in a research note on Tuesday, February 6th. Finally, TD Securities lifted their price objective on Sun Life Financial from C$62.00 to C$73.00 and gave the stock a hold rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of C$75.91.

Check Out Our Latest Stock Report on SLF

Sun Life Financial Trading Down 0.6 %

TSE:SLF opened at C$71.07 on Friday. Sun Life Financial has a 12-month low of C$60.01 and a 12-month high of C$71.64. The company has a current ratio of 1.78, a quick ratio of 84,866.00 and a debt-to-equity ratio of 78.47. The stock’s 50 day simple moving average is C$68.94 and its 200-day simple moving average is C$67.40. The firm has a market cap of C$41.55 billion, a P/E ratio of 13.51, a PEG ratio of 1.13 and a beta of 0.97.

Sun Life Financial (TSE:SLFGet Free Report) (NYSE:SLF) last announced its quarterly earnings data on Monday, November 13th. The financial services provider reported C$1.59 EPS for the quarter, topping analysts’ consensus estimates of C$1.58 by C$0.01. Sun Life Financial had a net margin of 10.27% and a return on equity of 13.98%. The company had revenue of C$2.44 billion during the quarter. Equities analysts anticipate that Sun Life Financial will post 6.7808349 EPS for the current year.

Sun Life Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, February 28th will be paid a $0.78 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.75. This represents a $3.12 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend is Tuesday, February 27th. Sun Life Financial’s payout ratio is presently 59.32%.

Insiders Place Their Bets

In other news, Senior Officer Jacques Jr. Goulet sold 124,639 shares of the company’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of C$70.07, for a total transaction of C$8,732,956.17. In other Sun Life Financial news, Director Kevin Strain sold 15,986 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of C$69.69, for a total transaction of C$1,114,000.40. Also, Senior Officer Jacques Jr. Goulet sold 124,639 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of C$70.07, for a total transaction of C$8,732,956.17. Corporate insiders own 0.02% of the company’s stock.

About Sun Life Financial

(Get Free Report)

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.

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Analyst Recommendations for Sun Life Financial (TSE:SLF)

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