Royal Bank Of Canada Cuts Sun Life Financial (TSE:SLF) Price Target to C$84.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target decreased by Royal Bank Of Canada from C$88.00 to C$84.00 in a report released on Monday,BayStreet.CA reports.

Several other brokerages also recently weighed in on SLF. Barclays downgraded shares of Sun Life Financial from a “hold” rating to a “strong sell” rating in a report on Monday, July 7th. TD Securities lifted their target price on shares of Sun Life Financial from C$83.00 to C$86.00 and gave the company a “hold” rating in a report on Friday, May 9th. Jefferies Financial Group lowered their target price on shares of Sun Life Financial from C$96.00 to C$90.00 in a report on Monday, April 21st. National Bankshares cut shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from C$93.00 to C$87.00 in a research note on Friday. Finally, CIBC reduced their price objective on shares of Sun Life Financial from C$94.00 to C$89.00 and set an “outperform” rating for the company in a research note on Thursday, May 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of C$86.67.

Sun Life Financial Stock Up 0.8%

Sun Life Financial stock opened at C$78.45 on Monday. Sun Life Financial has a twelve month low of C$65.79 and a twelve month high of C$91.11. The stock has a 50 day moving average of C$86.44 and a two-hundred day moving average of C$83.50. 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 stock has a market capitalization of C$44.81 billion, a price-to-earnings ratio of 11.83, a PEG ratio of 1.33 and a beta of 0.94.

Sun Life Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Monday, September 29th will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, August 27th. This represents a $3.52 dividend on an annualized basis and a yield of 4.5%. Sun Life Financial’s payout ratio is presently 48.87%.

Insider Buying and Selling at Sun Life Financial

In other Sun Life Financial news, Director Kevin Strain bought 3,850 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was bought at an average price of C$89.10 per share, for a total transaction of C$343,035.00. Also, Senior Officer Jacques Jr. Goulet sold 44,199 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of C$88.17, for a total transaction of C$3,897,025.83. In the last three months, insiders have sold 161,909 shares of company stock worth $14,216,427. 0.03% of the stock is currently owned by insiders.

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.