Sun Life Financial (TSE:SLF) Price Target Raised to C$93.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price increased by Scotiabank from C$87.00 to C$93.00 in a research report released on Thursday morning,BayStreet.CA reports. The firm currently has a sector perform rating on the financial services provider’s stock.

SLF has been the topic of a number of other research reports. Royal Bank Of Canada set a C$84.00 price target on shares of Sun Life Financial and gave the stock a “sector perform” rating in a report on Monday, January 19th. Jefferies Financial Group boosted their target price on Sun Life Financial from C$96.00 to C$98.00 in a research note on Monday, November 10th. BMO Capital Markets cut their price target on Sun Life Financial from C$99.00 to C$95.00 in a research note on Monday, November 10th. TD Securities boosted their price objective on Sun Life Financial from C$99.00 to C$104.00 in a research note on Wednesday, January 14th. Finally, Canadian Imperial Bank of Commerce upped their price objective on shares of Sun Life Financial from C$93.00 to C$95.00 and gave the company a “neutral” rating in a report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of C$93.22.

Sun Life Financial Price Performance

Shares of TSE:SLF opened at C$88.99 on Thursday. The company’s 50-day moving average is C$85.33 and its 200 day moving average is C$83.90. The company has a debt-to-equity ratio of 26.00, a quick ratio of 84,866.00 and a current ratio of 92.19. The company has a market capitalization of C$49.28 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 1.33 and a beta of 0.73. Sun Life Financial has a fifty-two week low of C$74.56 and a fifty-two week high of C$91.11.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported C$1.86 earnings per share (EPS) for the quarter. The business had revenue of C$9.07 billion during the quarter. Sun Life Financial had a net margin of 7.58% and a return on equity of 15.69%. On average, equities research analysts forecast that Sun Life Financial will post 6.9230769 earnings per share for the current year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were paid a dividend of $0.92 per share. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.88. This represents a $3.68 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Wednesday, November 26th. Sun Life Financial’s dividend payout ratio is presently 65.15%.

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.