Sun Life Financial (TSE:SLF) Price Target Raised to C$87.00 at Barclays

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price increased by Barclays from C$82.00 to C$87.00 in a research report released on Monday morning,BayStreet.CA reports.

A number of other research firms also recently issued reports on SLF. Cormark increased their target price on shares of Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday, November 5th. TD Securities increased their price objective on Sun Life Financial from C$81.00 to C$87.00 and gave the stock a “hold” rating in a report on Thursday, November 14th. Jefferies Financial Group boosted their target price on Sun Life Financial from C$90.00 to C$94.00 in a research note on Thursday, November 14th. Royal Bank of Canada raised their price target on Sun Life Financial from C$78.00 to C$82.00 in a research note on Wednesday, November 6th. Finally, Scotiabank boosted their price target on Sun Life Financial from C$85.00 to C$96.00 in a research note on Thursday, November 14th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Sun Life Financial currently has a consensus rating of “Moderate Buy” and an average target price of C$84.64.

Sun Life Financial Price Performance

Shares of SLF opened at C$84.12 on Monday. The business’s 50-day moving average is C$84.54 and its 200-day moving average is C$76.56. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00. The company has a market capitalization of C$48.49 billion, a price-to-earnings ratio of 15.93, a P/E/G ratio of 1.33 and a beta of 0.94. Sun Life Financial has a fifty-two week low of C$64.38 and a fifty-two week high of C$88.54.

Sun Life Financial Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Wednesday, November 27th were issued a $0.84 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.81. This represents a $3.36 annualized dividend and a yield of 3.99%. The ex-dividend date was Wednesday, November 27th. Sun Life Financial’s payout ratio is 61.36%.

Insider Buying and Selling at Sun Life Financial

In other news, Director Kevin Strain sold 85,943 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of C$84.71, for a total value of C$7,280,231.53. Also, Senior Officer Linda Dougherty acquired 5,800 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were acquired at an average cost of C$84.83 per share, with a total value of C$492,014.00. Corporate insiders own 0.03% of the company’s stock.

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.