Sun Life Financial (TSE:SLF) Stock Price Expected to Rise, CIBC Analyst Says

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective lifted by CIBC from C$80.00 to C$90.00 in a research note released on Wednesday, BayStreet.CA reports. The firm currently has an outperform rating on the financial services provider’s stock.

SLF has been the subject of a number of other research reports. Jefferies Financial Group boosted their target price on Sun Life Financial from C$81.00 to C$89.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Scotiabank raised their target price on shares of Sun Life Financial from C$73.00 to C$85.00 and gave the company an “outperform” rating in a research note on Wednesday. Royal Bank of Canada boosted their price target on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Barclays set a C$76.00 price objective on shares of Sun Life Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. Finally, Evercore lowered their target price on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of C$78.82.

Sun Life Financial Stock Up 0.6 %

Shares of TSE:SLF opened at C$77.63 on Wednesday. Sun Life Financial has a 12 month low of C$64.36 and a 12 month high of C$79.45. The firm has a market cap of C$44.75 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.33 and a beta of 0.94. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. The company’s 50-day moving average price is C$76.68 and its two-hundred day moving average price is C$71.45.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings results on Monday, August 12th. The financial services provider reported C$1.71 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.58 by C$0.13. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. The business had revenue of C$8.92 billion during the quarter, compared to analyst estimates of C$9.18 billion. As a group, research analysts forecast that Sun Life Financial will post 6.9230769 EPS for the current fiscal year.

Sun Life Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 4.17%. Sun Life Financial’s dividend payout ratio is 61.36%.

Insider Activity

In other Sun Life Financial news, Director Stephanie Coyles acquired 500 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the purchase, the director now owns 500 shares of the company’s stock, valued at C$35,000. In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of Sun Life Financial stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total value of C$1,142,323.80. Also, Director Stephanie Coyles purchased 500 shares of Sun Life Financial stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately C$35,000. 0.03% of the stock is owned by company insiders.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.