CIBC Raises Sun Life Financial (TSE:SLF) Price Target to C$80.00

Sun Life Financial (TSE:SLF - Free Report) NYSE: SLF had its price objective boosted by CIBC from C$77.00 to C$80.00 in a report published on Tuesday morning, BayStreet.CA reports. The firm currently has an outperform rating on the financial services provider's stock.

Several other equities analysts also recently commented on SLF. Evercore boosted their target price on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the stock an outperform rating in a report on Tuesday, January 23rd. Desjardins boosted their target price on shares of Sun Life Financial from C$75.00 to C$77.00 and gave the stock a buy rating in a report on Friday, February 9th. Jefferies Financial Group upped their price target on shares of Sun Life Financial from C$82.00 to C$83.00 and gave the company a buy rating in a research note on Wednesday, March 6th. TD Securities upped their price target on shares of Sun Life Financial from C$73.00 to C$75.00 and gave the company a hold rating in a research note on Friday, April 12th. Finally, BMO Capital Markets upped their price target on shares of Sun Life Financial from C$70.00 to C$80.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of C$77.18.

Sun Life Financial Price Performance

Shares of SLF stock traded down C$0.23 during mid-day trading on Tuesday, hitting C$70.29. The company had a trading volume of 1,970,364 shares, compared to its average volume of 1,814,759. Sun Life Financial has a 52-week low of C$61.84 and a 52-week high of C$74.94. The stock's 50 day moving average price is C$72.55 and its 200-day moving average price is C$69.66. The company has a debt-to-equity ratio of 78.47, a current ratio of 6.81 and a quick ratio of 84,866.00. The company has a market capitalization of C$40.94 billion, a P/E ratio of 13.39, a P/E/G ratio of 1.25 and a beta of 0.96.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last released its earnings results on Wednesday, February 7th. The financial services provider reported C$1.68 EPS for the quarter, topping the consensus estimate of C$1.59 by C$0.09. Sun Life Financial had a net margin of 10.26% and a return on equity of 13.98%. The firm had revenue of C$18.68 billion for the quarter. Equities research analysts forecast that Sun Life Financial will post 6.9036382 earnings per share for the current year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were issued a $0.78 dividend. The ex-dividend date was Tuesday, February 27th. This is a boost from Sun Life Financial's previous quarterly dividend of $0.75. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.44%. Sun Life Financial's dividend payout ratio is presently 59.32%.

Insider Transactions at Sun Life Financial

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 16,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of C$74.45, for a total transaction of C$1,191,120.00. Company insiders own 0.03% of the company's stock.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.