Analysts Set Sun Life Financial Inc. (TSE:SLF) Price Target at C$116.00

Shares of Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) have been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is C$116.00.

Several research analysts recently issued reports on SLF shares. Scotiabank increased their price target on shares of Sun Life Financial from C$98.00 to C$111.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. Barclays boosted their target price on Sun Life Financial from C$96.00 to C$98.00 in a research report on Friday, August 7th. TD increased their target price on Sun Life Financial from C$121.00 to C$124.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. BMO Capital Markets raised their price target on Sun Life Financial from C$99.00 to C$105.00 in a report on Friday, May 8th. Finally, Royal Bank Of Canada lifted their price target on Sun Life Financial from C$98.00 to C$119.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th.

Sun Life Financial Stock Performance

Shares of SLF opened at C$112.09 on Monday. The company has a debt-to-equity ratio of 34.34, a quick ratio of 84,866.00 and a current ratio of 27.38. The stock has a market capitalization of C$62.40 billion, a P/E ratio of 19.00, a P/E/G ratio of 1.33 and a beta of 0.80. The company’s fifty day moving average is C$112.80 and its two-hundred day moving average is C$101.49. Sun Life Financial has a 1 year low of C$79.36 and a 1 year high of C$118.99.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its earnings results on Thursday, August 6th. The financial services provider reported C$2.02 EPS for the quarter. The company had revenue of C$9.05 billion during the quarter. Sun Life Financial had a net margin of 8.81% and a return on equity of 13.89%. On average, sell-side analysts predict that Sun Life Financial will post 6.9230769 earnings per share for the current year.

Sun Life Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Tuesday, September 29th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Wednesday, August 26th. This represents a $3.84 dividend on an annualized basis and a yield of 3.4%. Sun Life Financial’s dividend payout ratio (DPR) is 62.37%.

Insider Activity at Sun Life Financial

In other news, insider Manjit Singh sold 188,312 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of C$103.20, for a total transaction of C$19,433,798.40. Following the transaction, the insider directly owned 547 shares of the company’s stock, valued at C$56,450.40. This represents a 99.71% decrease in their position. Insiders own 0.03% of the company’s stock.

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.