Sun Life Financial (TSE:SLF) Issues Quarterly Earnings Results

Sun Life Financial (TSE:SLF) (NYSE:SLF) posted its quarterly earnings results on Wednesday. The financial services provider reported C$1.89 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$8.73 billion for the quarter. Sun Life Financial had a net margin of 9.74% and a return on equity of 14.68%.

Sun Life Financial Stock Performance

TSE:SLF traded down C$4.74 during midday trading on Thursday, reaching C$94.79. 3,746,050 shares of the company traded hands, compared to its average volume of 2,016,413. Sun Life Financial has a twelve month low of C$77.38 and a twelve month high of C$101.15. The firm has a market capitalization of C$52.51 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 1.33 and a beta of 0.73. The company has a debt-to-equity ratio of 74.49, a current ratio of 2.78 and a quick ratio of 84,866.00. The company has a fifty day moving average price of C$90.50 and a 200 day moving average price of C$87.33.

Sun Life Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Tuesday, March 31st were issued a $0.92 dividend. The ex-dividend date of this dividend was Wednesday, February 25th. This represents a $3.68 annualized dividend and a dividend yield of 3.9%. Sun Life Financial’s dividend payout ratio (DPR) is 57.24%.

Analyst Ratings Changes

Several research firms recently issued reports on SLF. Jefferies Financial Group upped their price target on shares of Sun Life Financial from C$103.00 to C$115.00 in a report on Friday, May 1st. TD Securities cut their price target on shares of Sun Life Financial from C$104.00 to C$102.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Scotiabank upped their price target on shares of Sun Life Financial from C$93.00 to C$96.00 and gave the company a “sector perform” rating in a report on Friday, February 13th. Canadian Imperial Bank of Commerce increased their target price on shares of Sun Life Financial from C$93.00 to C$95.00 and gave the stock a “neutral” rating in a report on Thursday, January 8th. Finally, Desjardins set a C$101.00 target price on shares of Sun Life Financial and gave the stock a “buy” rating in a report on Friday, April 17th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$100.40.

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.