Sun Life Financial Inc. (TSE:SLF) Receives C$86.89 Average PT from Brokerages

Shares of Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF have earned a consensus recommendation of "Moderate Buy" from the eight brokerages that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation, five have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is C$86.89.

A number of research analysts have recently commented on SLF shares. Royal Bank Of Canada increased their price objective on Sun Life Financial from C$82.00 to C$88.00 in a report on Monday, May 12th. TD Securities lifted 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 research note on Friday, May 9th. Barclays reduced their price target on shares of Sun Life Financial from C$87.00 to C$86.00 in a research report on Friday, May 9th. Jefferies Financial Group cut their target price on Sun Life Financial from C$96.00 to C$90.00 in a research report on Monday, April 21st. Finally, CIBC decreased their target price on Sun Life Financial from C$94.00 to C$89.00 and set an "outperform" rating for the company in a research report on Thursday, May 1st.

Insider Activity

In other news, Senior Officer Daniel Fishbein sold 37,662 shares of the firm'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 firm's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of C$87.70, for a total transaction of C$7,020,209.60. In the last 90 days, insiders have sold 188,721 shares of company stock valued at $16,554,701. Corporate insiders own 0.03% of the company's stock.

Sun Life Financial Stock Down 1.7%

Shares of TSE:SLF traded down C$1.53 during trading hours on Tuesday, reaching C$89.08. The stock had a trading volume of 206,644 shares, compared to its average volume of 2,225,234. Sun Life Financial has a 1 year low of C$64.38 and a 1 year high of C$91.11. The firm's 50 day moving average is C$86.90 and its 200-day moving average is C$83.49. The stock has a market capitalization of C$50.88 billion, a price-to-earnings ratio of 13.44, a P/E/G ratio of 1.33 and a beta of 0.94. The company has a debt-to-equity ratio of 26.00, a quick ratio of 84,866.00 and a current ratio of 92.19.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Monday, June 30th were issued a dividend of $0.88 per share. The ex-dividend date was Wednesday, May 28th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 3.95%. Sun Life Financial's dividend payout ratio (DPR) is currently 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.