Sun Life Financial (TSE:SLF) Upgraded at Scotiabank

Scotiabank upgraded shares of Sun Life Financial (TSE:SLF) (NYSE:SLF) from a hold rating to a sector outperform rating in a research report released on Wednesday, MarketBeat.com reports. Scotiabank currently has C$122.00 price target on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. National Bank Financial reduced their price target on Sun Life Financial from C$125.00 to C$124.00 and set an “outperform” rating on the stock in a research report on Monday, October 19th. Desjardins increased their price objective on shares of Sun Life Financial from C$120.00 to C$122.00 and gave the company a “buy” rating in a research report on Monday, August 10th. TD lifted their price objective on shares of Sun Life Financial from C$121.00 to C$124.00 and gave the company a “buy” rating in a research note on Friday, August 7th. Royal Bank Of Canada lifted their price objective on shares of 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. Finally, Jefferies Financial Group boosted their target price on shares of Sun Life Financial from C$131.00 to C$141.00 in a research report on Monday, August 10th. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of C$116.83.

Sun Life Financial Trading Down 1.2%

Shares of SLF opened at C$113.17 on Wednesday. The stock’s 50-day moving average is C$111.29 and its two-hundred day moving average is C$101.90. The stock has a market cap of C$62.93 billion, a PE ratio of 19.18, a P/E/G ratio of 1.33 and a beta of 0.73. Sun Life Financial has a 12 month low of C$79.99 and a 12 month high of C$118.99. The company has a debt-to-equity ratio of 34.34, a current ratio of 27.38 and a quick ratio of 84,866.00.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its earnings results on Thursday, August 6th. The financial services provider reported C$2.02 earnings per share for the quarter. Sun Life Financial had a return on equity of 13.89% and a net margin of 8.81%. The company had revenue of C$9.05 billion during the quarter. Equities analysts forecast that Sun Life Financial will post 6.92 earnings per share for the current fiscal year.

Sun Life Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 29th. Investors of record on Tuesday, September 29th were issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Wednesday, August 26th. Sun Life Financial’s payout ratio is currently 62.37%.

Insider Buying and Selling at Sun Life Financial

In other news, insider Melissa Jane Kennedy sold 11,740 shares of Sun Life Financial stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of C$110.05, for a total value of C$1,291,987.00. Following the completion of the transaction, the insider owned 43,238 shares in the company, valued at approximately C$4,758,341.90. This trade represents a 21.35% decrease in their position. Also, Director Kevin Strain sold 101,580 shares of Sun Life Financial stock in a transaction that occurred on Thursday, September 3rd. The stock was sold at an average price of C$110.86, for a total value of C$11,261,158.80. Following the completion of the transaction, the director owned 42,000 shares of the company’s stock, valued at approximately C$4,656,120. The trade was a 70.75% decrease in their position. Insiders have sold 179,448 shares of company stock worth $19,874,331 over the last quarter. 0.03% of the stock is owned by corporate insiders.

About Sun Life Financial

Sun Life is a leading international financial services organization providing asset management, wealth, insurance and health solutions to individual and institutional Clients. Sun Life has operations in a number of markets worldwide, including Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia and Bermuda. As of March 31, 2025, Sun Life had total assets under management of $1.55 trillion.