Sun Life Financial (TSE:SLF) Given New C$94.00 Price Target at CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective reduced by CIBC from C$95.00 to C$94.00 in a research note released on Tuesday morning,BayStreet.CA reports. CIBC currently has an outperform rating on the financial services provider’s stock.

A number of other research analysts also recently weighed in on the stock. National Bankshares decreased their price objective on shares of Sun Life Financial from C$95.00 to C$93.00 and set an “outperform” rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada boosted 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. Scotiabank cut their target price on Sun Life Financial from C$98.00 to C$94.00 in a research note on Friday, February 14th. Jefferies Financial Group upped their price objective on Sun Life Financial from C$90.00 to C$94.00 in a report on Thursday, November 14th. Finally, Barclays increased their target price on shares of Sun Life Financial from C$82.00 to C$87.00 in a research note on Monday, January 6th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$87.00.

Sun Life Financial Trading Up 0.7 %

TSE:SLF opened at C$79.16 on Tuesday. The firm has a fifty day simple moving average of C$83.30 and a 200-day simple moving average of C$80.09. Sun Life Financial has a 12 month low of C$64.38 and a 12 month high of C$88.54. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00. The company has a market capitalization of C$45.22 billion, a P/E ratio of 11.94, a PEG ratio of 1.33 and a beta of 0.94.

Sun Life Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 4.24%. The ex-dividend date is Wednesday, February 26th. Sun Life Financial’s dividend payout ratio (DPR) is 48.87%.

About Sun Life Financial

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.