Sun Life Financial (TSE:SLF) Price Target Raised to C$86.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target lifted by TD Securities from C$83.00 to C$86.00 in a research report released on Friday,BayStreet.CA reports. The brokerage currently has a hold rating on the financial services provider’s stock.

SLF has been the topic of several other research reports. Barclays cut their price objective on Sun Life Financial from C$87.00 to C$86.00 in a research report on Friday. Jefferies Financial Group dropped their price target on Sun Life Financial from C$96.00 to C$90.00 in a research report on Monday, April 21st. National Bank Financial raised Sun Life Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Scotiabank dropped their price target on Sun Life Financial from C$94.00 to C$90.00 and set an “outperform” rating on the stock in a research report on Thursday, May 1st. Finally, Royal Bank of Canada set a C$82.00 price target on Sun Life Financial and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of C$85.50.

Sun Life Financial Stock Performance

Shares of Sun Life Financial stock opened at C$86.54 on Friday. The stock’s fifty day moving average is C$80.28 and its two-hundred day moving average is C$82.22. The company has a market capitalization of C$49.43 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The company has a quick ratio of 84,866.00, a current ratio of 92.19 and a debt-to-equity ratio of 26.00. Sun Life Financial has a 52 week low of C$64.38 and a 52 week high of C$88.54.

Sun Life Financial Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, May 28th will be paid a $0.88 dividend. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.84. This represents a $3.52 dividend on an annualized basis and a yield of 4.07%. Sun Life Financial’s dividend payout ratio (DPR) is 48.87%.

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.