Royal Bank of Canada Increases Sun Life Financial (TSE:SLF) Price Target to C$77.00

Sun Life Financial (TSE:SLFFree Report) (NYSE:SLF) had its price objective boosted by Royal Bank of Canada from C$76.00 to C$77.00 in a research note issued to investors on Friday, BayStreet.CA reports. Royal Bank of Canada currently has an outperform rating on the financial services provider’s stock.

SLF has been the topic of a number of other reports. BMO Capital Markets boosted their price objective on shares of Sun Life Financial from C$70.00 to C$80.00 and gave the company an outperform rating in a research report on Thursday, January 25th. TD Securities boosted their price objective on shares of Sun Life Financial from C$62.00 to C$73.00 and gave the company a hold rating in a research report on Thursday, February 8th. National Bankshares boosted their target price on shares of Sun Life Financial from C$71.00 to C$72.00 and gave the stock a sector perform rating in a research report on Tuesday, January 23rd. Evercore raised their price target on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the company an outperform rating in a report on Tuesday, January 23rd. Finally, Desjardins set a C$73.00 target price on shares of Sun Life Financial and gave the stock a buy rating in a research report on Tuesday, December 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Sun Life Financial has a consensus rating of Moderate Buy and an average target price of C$75.91.

Check Out Our Latest Report on Sun Life Financial

Sun Life Financial Stock Performance

Sun Life Financial stock opened at C$71.07 on Friday. The firm’s 50 day simple moving average is C$68.94 and its 200-day simple moving average is C$67.40. The company has a market cap of C$41.55 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97. The company has a debt-to-equity ratio of 78.47, a current ratio of 1.78 and a quick ratio of 84,866.00. Sun Life Financial has a fifty-two week low of C$60.01 and a fifty-two week high of C$71.64.

Sun Life Financial (TSE:SLFGet Free Report) (NYSE:SLF) last released its earnings results on Monday, November 13th. The financial services provider reported C$1.59 earnings per share for the quarter, topping the consensus estimate of C$1.58 by C$0.01. The business had revenue of C$2.44 billion for the quarter. Sun Life Financial had a net margin of 10.27% and a return on equity of 13.98%. As a group, equities research analysts predict that Sun Life Financial will post 6.7808349 EPS for the current year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, February 28th will be given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.39%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Tuesday, February 27th. Sun Life Financial’s dividend payout ratio (DPR) is currently 59.32%.

Insider Activity

In related news, Director Kevin Strain sold 15,986 shares of the business’s stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of C$69.69, for a total transaction of C$1,114,000.40. In other news, Director Kevin Strain sold 15,986 shares of the firm’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of C$69.69, for a total transaction of C$1,114,000.40. Also, Senior Officer Jacques Jr. Goulet sold 124,639 shares of Sun Life Financial stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of C$70.07, for a total transaction of C$8,732,956.17. 0.02% of the stock is owned by company insiders.

About Sun Life Financial

(Get Free Report)

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.

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Analyst Recommendations for Sun Life Financial (TSE:SLF)

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