Sun Life Financial Inc. (TSE:SLF) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) have earned a consensus rating of “Moderate Buy” from the ten research firms that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is C$76.09.

Several analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Jefferies Financial Group increased their price target on shares of Sun Life Financial from C$78.00 to C$81.00 and gave the stock a “buy” rating in a research report on Wednesday, August 14th. TD Securities cut their target price on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. National Bankshares raised their target price on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 13th. Finally, Barclays set a C$76.00 target price on shares of Sun Life Financial and gave the company an “equal weight” rating in a research report on Thursday, September 5th.

Sun Life Financial Stock Performance

Shares of TSE:SLF opened at C$74.86 on Wednesday. The company’s 50 day moving average price is C$69.85 and its two-hundred day moving average price is C$70.27. Sun Life Financial has a 12-month low of C$61.84 and a 12-month high of C$75.23. The firm has a market cap of C$43.24 billion, a PE ratio of 14.18, a PEG ratio of 1.25 and a beta of 0.93. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings results on Monday, August 12th. The financial services provider reported C$1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.58 by C$0.13. The business had revenue of C$8.92 billion for the quarter, compared to analyst estimates of C$9.18 billion. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. Equities research analysts predict that Sun Life Financial will post 7.379822 earnings per share for the current year.

Sun Life Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Wednesday, August 28th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date is Wednesday, August 28th. Sun Life Financial’s dividend payout ratio is presently 61.36%.

Insider Buying and Selling

In other news, Director Stephanie Coyles bought 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at C$35,000. In related news, Director Stephanie Coyles purchased 500 shares of Sun Life Financial stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of C$70.00 per share, for a total transaction of C$35,000.00. Following the completion of the acquisition, the director now owns 500 shares of the company’s stock, valued at approximately C$35,000. Also, Senior Officer Daniel Fishbein sold 15,999 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. 0.03% of the stock is owned by insiders.

About Sun Life Financial

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.