Sun Life Financial (SLF) Price Target Lowered to C$56.00 at BMO Capital Markets

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Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target trimmed by BMO Capital Markets from C$60.00 to C$56.00 in a research report sent to investors on Friday.

A number of other research analysts have also issued reports on the stock. Evercore ISI reduced their target price on shares of Sun Life Financial from C$60.00 to C$59.00 in a report on Thursday. Evercore reduced their target price on shares of Sun Life Financial from C$60.00 to C$59.00 in a report on Thursday. National Bank Financial reduced their target price on shares of Sun Life Financial from C$59.00 to C$55.00 and set an outperform rating on the stock in a report on Thursday. CIBC reduced their target price on shares of Sun Life Financial from C$59.00 to C$57.00 in a report on Monday, October 29th. Finally, Desjardins reduced their target price on shares of Sun Life Financial from C$60.00 to C$58.00 in a report on Tuesday, October 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of C$57.71.

TSE:SLF traded down C$0.18 on Friday, reaching C$48.45. The stock had a trading volume of 1,192,800 shares, compared to its average volume of 1,099,038. The company has a debt-to-equity ratio of 18.98, a quick ratio of 448.92 and a current ratio of 481.58. Sun Life Financial has a 12-month low of C$46.96 and a 12-month high of C$56.09.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its earnings results on Wednesday, August 8th. The financial services provider reported C$1.20 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of C$1.15 by C$0.05. The firm had revenue of C$6.83 billion during the quarter. Analysts forecast that Sun Life Financial will post 5.01311658165698 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Wednesday, November 28th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, November 27th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.48. Sun Life Financial’s dividend payout ratio is currently 46.50%.

In other news, insider Stephen Peacher sold 89,485 shares of the company’s stock in a transaction dated Thursday, September 6th. The shares were sold at an average price of C$51.39, for a total transaction of C$4,598,634.15.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.

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