Sun Life Financial Inc. (TSE:SLF) Announces Quarterly Dividend of $0.96

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) declared a quarterly dividend on Wednesday, May 27th, TickerTech Dividends reports. Shareholders of record on Tuesday, June 30th will be given a dividend of 0.96 per share by the financial services provider on Tuesday, June 30th. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Wednesday, May 27th. This is a 4.3% increase from Sun Life Financial’s previous quarterly dividend of $0.92.

Sun Life Financial Price Performance

TSE:SLF opened at C$100.98 on Monday. The firm has a 50-day moving average of C$92.83 and a two-hundred day moving average of C$88.36. The stock has a market cap of C$55.95 billion, a P/E ratio of 18.80, a PEG ratio of 1.33 and a beta of 0.73. Sun Life Financial has a 1-year low of C$77.38 and a 1-year high of C$101.57.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings data on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share for the quarter. The company had revenue of C$8.73 billion during the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.98%. As a group, equities analysts expect that Sun Life Financial will post 6.9230769 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SLF. Canadian Imperial Bank of Commerce upped their price objective on shares of Sun Life Financial from C$95.00 to C$102.00 in a research report on Friday, May 8th. Jefferies Financial Group upped their price objective on shares of Sun Life Financial from C$103.00 to C$115.00 in a research report on Friday, May 1st. BMO Capital Markets upped their price objective on shares of Sun Life Financial from C$99.00 to C$105.00 in a research report on Friday, May 8th. TD upped their price objective on shares of Sun Life Financial from C$102.00 to C$107.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, TD Securities decreased their price objective on shares of Sun Life Financial from C$104.00 to C$102.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. One equities research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$101.60.

Sun Life Financial Company Profile

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.