Sun Life Financial (TSE:SLF) Price Target Raised to C$121.00 at TD

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective boosted by TD from C$107.00 to C$121.00 in a research note published on Tuesday morning,BayStreet.CA reports. They currently have a buy rating on the financial services provider’s stock.

Several other equities analysts also recently issued reports on SLF. Desjardins set a C$101.00 price objective on shares of Sun Life Financial and gave the company a “buy” rating in a report on Friday, April 17th. Jefferies Financial Group boosted their target price on shares of Sun Life Financial from C$103.00 to C$115.00 in a research note on Friday, May 1st. National Bank Financial reduced their price target on shares of Sun Life Financial from C$109.00 to C$108.00 and set an “outperform” rating for the company in a research report on Thursday, May 7th. Evercore lowered shares of Sun Life Financial from an “outperform” rating to a “hold” rating and set a C$111.00 price target on the stock. in a research note on Monday, July 13th. Finally, Barclays lifted their price objective on Sun Life Financial from C$84.00 to C$85.00 in a report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of C$107.82.

Sun Life Financial Trading Up 0.6%

Shares of TSE:SLF opened at C$114.20 on Tuesday. Sun Life Financial has a 1 year low of C$77.38 and a 1 year high of C$115.45. The firm has a market capitalization of C$63.30 billion, a price-to-earnings ratio of 21.27, a price-to-earnings-growth ratio of 1.33 and a beta of 0.79. The company has a debt-to-equity ratio of 32.51, a current ratio of 6.03 and a quick ratio of 84,866.00. The business’s 50 day moving average price is C$106.76 and its 200-day moving average price is C$95.71.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share (EPS) for the quarter. The firm had revenue of C$8.73 billion for the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.89%. On average, equities 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 firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.96 per share. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.92. The ex-dividend date of this dividend was Wednesday, May 27th. This represents a $3.84 annualized dividend and a yield of 3.4%. Sun Life Financial’s dividend payout ratio is presently 67.04%.

Insider Buying and Selling at Sun Life Financial

In other news, insider Helena Janina Pagano sold 17,283 shares of the company’s stock in a transaction on Monday, May 25th. The shares were sold at an average price of C$101.32, for a total transaction of C$1,751,113.56. Following the completion of the sale, the insider owned 228 shares of the company’s stock, valued at C$23,100.96. This represents a 98.70% decrease in their ownership of the stock. Also, insider Manjit Singh sold 188,312 shares of the stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of C$103.20, for a total transaction of C$19,433,798.40. Following the completion of the sale, the insider owned 547 shares of the company’s stock, valued at C$56,450.40. This trade represents a 99.71% decrease in their ownership of the stock. Over the last three months, insiders have sold 380,998 shares of company stock valued at $38,271,605. 0.03% of the stock is owned by company 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. Sun Life generates about a third of its profit from asset-management operations.