Sun Life Financial Inc. (TSE:SLF) Receives C$76.09 Consensus Target Price from Analysts

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is C$76.09.

A number of analysts have issued reports on SLF shares. CIBC raised their target price on Sun Life Financial from C$77.00 to C$80.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 30th. TD Securities cut their price objective on Sun Life Financial from C$75.00 to C$71.00 in a research report on Friday, May 10th. BMO Capital Markets cut their price objective on Sun Life Financial from C$80.00 to C$79.00 and set an “outperform” rating for the company in a research report on Monday, May 13th. Scotiabank lowered their target price on Sun Life Financial from C$76.00 to C$73.00 and set an “outperform” rating for the company in a report on Monday, May 13th. Finally, National Bankshares lowered their target price on Sun Life Financial from C$73.00 to C$72.00 in a report on Friday, May 10th.

Sun Life Financial Trading Up 0.6 %

Shares of TSE:SLF opened at C$67.01 on Friday. The business’s 50 day moving average price is C$68.96 and its 200-day moving average price is C$70.21. The company has a debt-to-equity ratio of 26.46, a current ratio of 56.69 and a quick ratio of 84,866.00. The firm has a market capitalization of C$38.94 billion, a price-to-earnings ratio of 12.85, a price-to-earnings-growth ratio of 1.25 and a beta of 0.96. Sun Life Financial has a 1 year low of C$61.84 and a 1 year high of C$74.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings data on Thursday, May 9th. The financial services provider reported C$1.50 earnings per share for the quarter, missing analysts’ consensus estimates of C$1.64 by C($0.14). The firm had revenue of C$6.88 billion during the quarter, compared to analysts’ expectations of C$9.96 billion. Sun Life Financial had a net margin of 10.12% and a return on equity of 13.68%. On average, equities research analysts forecast that Sun Life Financial will post 6.3499079 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, May 29th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 4.84%. The ex-dividend date is Wednesday, May 29th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.78. Sun Life Financial’s dividend payout ratio (DPR) is presently 62.31%.

Insider Buying and Selling

In other Sun Life Financial news, Director Kevin Strain bought 12,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The stock was purchased at an average price of C$67.48 per share, for a total transaction of C$809,760.00. In other news, Director Stephanie Coyles purchased 900 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were bought at an average price of C$69.15 per share, with a total value of C$62,235.00. Also, Director Kevin Strain purchased 12,000 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were purchased at an average cost of C$67.48 per share, for a total transaction of C$809,760.00. 0.03% of the stock is owned by company insiders.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.