Analysts Set Sun Life Financial Inc. (TSE:SLF) Price Target at C$86.67

Key Points

• Sun Life Financial Inc. has an average rating of "Hold" from nine brokerages, with one sell, four hold, and four buy ratings.
• The stock's average one-year price objective among brokerages is C$86.67, with recent updates raising it from C$83.00 to C$86.00.
• The company has announced a quarterly dividend of $0.88 per share, representing an annualized yield of 4.3%, with the ex-dividend date set for August 27th.

Shares of Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF have been assigned a consensus rating of "Hold" from the nine research firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is C$86.67.

A number of research analysts have commented on SLF shares. Scotiabank cut their target price on shares of Sun Life Financial from C$88.00 to C$83.00 and set a "sector perform" rating on the stock in a research report on Monday, August 11th. TD Securities raised 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 research report on Friday, May 9th. Desjardins cut their target price on shares of Sun Life Financial from C$95.00 to C$90.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. Royal Bank Of Canada cut their target price on shares of Sun Life Financial from C$88.00 to C$84.00 in a research report on Monday, August 11th. Finally, National Bankshares downgraded shares of Sun Life Financial from an "outperform" rating to a "sector perform" rating and cut their target price for the company from C$93.00 to C$87.00 in a research report on Friday, August 8th.

Insider Transactions at Sun Life Financial

In other news, Director Kevin Strain acquired 3,850 shares of the business's stock in a transaction dated Thursday, June 5th. The shares were purchased at an average price of C$89.10 per share, with a total value of C$343,035.00. Also, Senior Officer Daniel Fishbein sold 37,662 shares of Sun Life Financial stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of C$87.60, for a total transaction of C$3,299,191.20. Insiders own 0.03% of the company's stock.

Sun Life Financial Trading Down 0.2%

SLF traded down C$0.18 on Wednesday, reaching C$81.49. 4,098,009 shares of the company traded hands, compared to its average volume of 2,082,900. Sun Life Financial has a one year low of C$72.14 and a one year high of C$91.11. The firm has a fifty day simple moving average of C$85.11 and a two-hundred day simple moving average of C$83.32. The company has a market cap of C$46.55 billion, a P/E ratio of 12.29, 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 Dividend Announcement

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 of this dividend is Wednesday, August 27th. This represents a $3.52 dividend on an annualized basis and a yield of 4.3%. 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.