Sun Life Financial Inc. (TSE:SLF) Receives C$86.89 Consensus Target Price from Analysts

Sun Life Financial Inc. (TSE:SLF) (NYSE:SLF) has earned an average recommendation of “Moderate Buy” from the eight brokerages that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is C$86.89.

Several equities analysts have recently issued reports on SLF shares. Barclays decreased their price objective on Sun Life Financial from C$87.00 to C$86.00 in a research note on Friday, May 9th. CIBC decreased their price target 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. TD Securities boosted their price target on shares of Sun Life Financial from C$83.00 to C$86.00 and gave the stock a “hold” rating in a report on Friday, May 9th. Jefferies Financial Group dropped their price objective on shares of Sun Life Financial from C$96.00 to C$90.00 in a research report on Monday, April 21st. Finally, Royal Bank Of Canada raised their price objective on shares of Sun Life Financial from C$82.00 to C$88.00 in a report on Monday, May 12th.

Sun Life Financial Price Performance

Shares of SLF opened at C$88.06 on Tuesday. The company has a market cap of C$50.30 billion, a P/E ratio of 13.28, a PEG ratio of 1.33 and a beta of 0.94. Sun Life Financial has a fifty-two week low of C$64.38 and a fifty-two week high of C$91.11. 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. The firm’s 50 day moving average price is C$87.20 and its 200 day moving average price is C$83.53.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Monday, June 30th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 4.00%. The ex-dividend date was Wednesday, May 28th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.84. Sun Life Financial’s payout ratio is currently 48.87%.

Insider Activity at Sun Life Financial

In related news, Senior Officer Daniel Fishbein sold 37,662 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of C$87.60, for a total value of C$3,299,191.20. Also, Senior Officer Stephen Peacher sold 80,048 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of C$87.70, for a total transaction of C$7,020,209.60. In the last quarter, insiders have sold 188,721 shares of company stock worth $16,554,701. Corporate insiders own 0.03% of the company’s stock.

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.