Sun Life Financial (TSE:SLF) Given New C$93.00 Price Target at Scotiabank

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price lifted by Scotiabank from C$87.00 to C$93.00 in a research report report published on Thursday morning,BayStreet.CA reports. The brokerage currently has a sector perform rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the stock. CIBC boosted their price objective on shares of Sun Life Financial from C$93.00 to C$95.00 and gave the stock a “neutral” rating in a research note on Thursday, January 8th. Jefferies Financial Group lifted their target price on shares of Sun Life Financial from C$96.00 to C$98.00 in a report on Monday, November 10th. BMO Capital Markets dropped their price target on Sun Life Financial from C$99.00 to C$95.00 in a research report on Monday, November 10th. Royal Bank Of Canada set a C$84.00 price target on Sun Life Financial and gave the stock a “sector perform” rating in a research note on Monday, January 19th. Finally, UBS Group upgraded Sun Life Financial to a “hold” rating in a research note on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Sun Life Financial has a consensus rating of “Hold” and a consensus target price of C$93.22.

Sun Life Financial Trading Down 0.9%

TSE SLF opened at C$88.78 on Thursday. 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 twelve month low of C$74.56 and a twelve month high of C$91.11. The firm has a market capitalization of C$49.17 billion, a PE ratio of 16.81, a P/E/G ratio of 1.33 and a beta of 0.73. The stock’s 50 day moving average is C$85.21 and its 200 day moving average is C$83.88.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted its quarterly earnings data on Wednesday, November 5th. The financial services provider reported C$1.86 earnings per share (EPS) for the quarter. Sun Life Financial had a return on equity of 15.69% and a net margin of 7.58%.The business had revenue of C$9.07 billion during the quarter. Research analysts forecast that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 31st were issued a $0.92 dividend. This represents a $3.68 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Wednesday, November 26th. This is an increase from Sun Life Financial’s previous quarterly dividend of $0.88. Sun Life Financial’s dividend payout ratio (DPR) is presently 65.15%.

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. Sun Life generates about a third of its profit from asset-management operations.