TD Securities Forecasts Strong Price Appreciation for Sun Life Financial (TSE:SLF) Stock

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective boosted by TD Securities from C$81.00 to C$87.00 in a report released on Thursday,BayStreet.CA reports. The brokerage currently has a hold rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group increased their price objective on shares of Sun Life Financial from C$81.00 to C$89.00 and gave the company a “buy” rating in a research report on Wednesday, October 16th. Scotiabank raised their price target on Sun Life Financial from C$73.00 to C$85.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. National Bankshares upped their price objective on Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 13th. CIBC increased their target price on Sun Life Financial from C$90.00 to C$96.00 in a report on Wednesday. Finally, Royal Bank of Canada upped their price target 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 company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$84.18.

Sun Life Financial Stock Down 1.4 %

Shares of SLF stock traded down C$1.17 during mid-day trading on Thursday, hitting C$84.78. The company’s stock had a trading volume of 184,864 shares, compared to its average volume of 2,008,130. The stock has a market cap of C$48.87 billion, a price-to-earnings ratio of 16.24, a PEG ratio of 1.33 and a beta of 0.94. The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29. Sun Life Financial has a 52-week low of C$64.38 and a 52-week high of C$86.39. The business has a 50-day moving average price of C$78.34 and a 200 day moving average price of C$72.22.

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

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 3.96%. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend is Wednesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is presently 61.36%.

Insider Buying and Selling

In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. 0.03% of the stock is currently owned by insiders.

Sun Life Financial Company Profile

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.