Sun Life Financial (TSE:SLF) Given New C$76.00 Price Target at Royal Bank of Canada

Sun Life Financial (TSE:SLF - Free Report) NYSE: SLF had its price objective cut by Royal Bank of Canada from C$77.00 to C$76.00 in a research note published on Monday morning, BayStreet.CA reports. They currently have an outperform rating on the financial services provider's stock.

Other equities analysts have also issued research reports about the stock. Desjardins lifted their target price on shares of Sun Life Financial from C$75.00 to C$77.00 and gave the company a buy rating in a report on Friday, February 9th. BMO Capital Markets reduced their price target on shares of Sun Life Financial from C$80.00 to C$79.00 and set an outperform rating on the stock in a research report on Monday. TD Securities cut their target price on shares of Sun Life Financial from C$75.00 to C$71.00 in a report on Friday. National Bankshares lowered their target price on Sun Life Financial from C$73.00 to C$72.00 in a report on Friday. Finally, Scotiabank cut their price target on Sun Life Financial from C$76.00 to C$73.00 and set an outperform rating on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of C$76.09.

Sun Life Financial Trading Up 1.1 %

SLF traded up C$0.76 on Monday, reaching C$69.27. 2,756,741 shares of the company's stock were exchanged, compared to its average volume of 1,846,004. The company has a market cap of C$40.35 billion, a price-to-earnings ratio of 13.17, a PEG ratio of 1.25 and a beta of 0.96. The company has a debt-to-equity ratio of 78.47, a quick ratio of 84,866.00 and a current ratio of 6.81. Sun Life Financial has a twelve month low of C$61.84 and a twelve month high of C$74.94. The company's 50 day moving average is C$72.26 and its 200-day moving average is C$70.10.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Wednesday, May 29th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Wednesday, May 29th. This is a positive change from Sun Life Financial's previous quarterly dividend of $0.78. This represents a $3.24 annualized dividend and a dividend yield of 4.68%. Sun Life Financial's dividend payout ratio (DPR) is currently 59.32%.

Insider Transactions at Sun Life Financial

In other news, Senior Officer Daniel Fishbein sold 16,000 shares of the business's stock in a transaction that occurred on 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. 0.03% of the stock is owned by insiders.

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.