Sun Life Financial (TSE:SLF) Given New C$96.00 Price Target at CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target raised by CIBC from C$90.00 to C$96.00 in a report released on Wednesday,BayStreet.CA reports.

A number of other research firms also recently commented on SLF. Cormark boosted their target price on Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday, November 5th. Scotiabank upped their price objective on Sun Life Financial from C$73.00 to C$85.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Barclays increased their target price on Sun Life Financial from C$76.00 to C$79.00 in a research report on Tuesday, November 5th. TD Securities boosted their price target on shares of Sun Life Financial from C$77.00 to C$81.00 in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada increased their price objective on shares of Sun Life Financial from C$78.00 to C$82.00 in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$81.91.

Sun Life Financial Stock Up 1.2 %

SLF opened at C$84.43 on Wednesday. The firm’s 50 day simple moving average is C$77.87 and its two-hundred day simple moving average is C$72.02. The company has a market capitalization of C$48.67 billion, a PE ratio of 15.96, a PEG ratio of 1.33 and a beta of 0.94. Sun Life Financial has a 1-year low of C$64.38 and a 1-year high of C$84.50. The company has a current ratio of 65.29, a quick ratio of 84,866.00 and a debt-to-equity ratio of 53.77.

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

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be paid a dividend of $0.84 per share. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.81. The ex-dividend date is Wednesday, November 27th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 3.98%. Sun Life Financial’s payout ratio is presently 61.36%.

Insider Buying and Selling at Sun Life Financial

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of the firm’s 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 transaction of C$1,142,323.80. In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. Also, Senior Officer Daniel Fishbein sold 15,999 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. 0.03% of the stock is currently 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.