National Bankshares lowered shares of Sun Life Financial (TSE:SLF - Free Report) NYSE: SLF from an outperform rating to a sector perform rating in a report released on Friday morning,BayStreet.CA reports. National Bankshares currently has C$87.00 target price on the financial services provider's stock, down from their previous target price of C$93.00.
Other analysts have also recently issued research reports about the stock. Royal Bank Of Canada raised their price objective on shares of Sun Life Financial from C$82.00 to C$88.00 in a research note on Monday, May 12th. TD Securities raised their price objective on shares of Sun Life Financial from C$83.00 to C$86.00 and gave the company a "hold" rating in a research note on Friday, May 9th. Jefferies Financial Group cut their target price on shares of Sun Life Financial from C$96.00 to C$90.00 in a research report on Monday, April 21st. CIBC lowered their price target on shares of Sun Life Financial from C$94.00 to C$89.00 and set an "outperform" rating on the stock in a research report on Thursday, May 1st. Finally, Scotiabank upgraded shares of Sun Life Financial to a "hold" rating in a research report on Thursday, July 31st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Sun Life Financial currently has an average rating of "Hold" and an average target price of C$86.67.
Check Out Our Latest Stock Report on SLF
Sun Life Financial Price Performance
Shares of TSE SLF traded up C$0.70 during midday trading on Friday, hitting C$79.15. The company had a trading volume of 170,185 shares, compared to its average volume of 2,093,539. 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$67.80 and a twelve month high of C$91.11. The business has a 50-day simple moving average of C$86.44 and a two-hundred day simple moving average of C$83.50. The firm has a market capitalization of C$45.21 billion, a price-to-earnings ratio of 11.94, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94.
Sun Life Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Wednesday, August 27th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend is Wednesday, August 27th. Sun Life Financial's payout ratio is currently 48.87%.
Insider Activity
In other news, Senior Officer Daniel Fishbein sold 37,662 shares of the business's stock in a transaction that occurred 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 Jacques Jr. Goulet sold 44,199 shares of the business's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of C$88.17, for a total transaction of C$3,897,025.83. In the last three months, insiders sold 161,909 shares of company stock worth $14,216,427. Corporate insiders own 0.03% of the company's stock.
About Sun Life Financial
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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.
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