Desjardins Boosts Sun Life Financial (TSE:SLF) Price Target to C$77.00

Sun Life Financial (TSE:SLFFree Report) (NYSE:SLF) had its target price raised by Desjardins from C$75.00 to C$77.00 in a research report report published on Friday morning, BayStreet.CA reports. Desjardins currently has a buy rating on the financial services provider’s stock. Desjardins also issued estimates for Sun Life Financial’s Q1 2024 earnings at $1.65 EPS, Q2 2024 earnings at $1.69 EPS, Q3 2024 earnings at $1.79 EPS, Q4 2024 earnings at $1.78 EPS, FY2024 earnings at $6.90 EPS and FY2025 earnings at $7.45 EPS.

SLF has been the subject of several other research reports. TD Securities increased their price target on Sun Life Financial from C$62.00 to C$73.00 and gave the company a hold rating in a research note on Thursday, February 8th. BMO Capital Markets raised their price target on shares of Sun Life Financial from C$70.00 to C$80.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Scotiabank increased their price objective on shares of Sun Life Financial from C$75.00 to C$76.00 in a research report on Tuesday, February 6th. Royal Bank of Canada lifted their price objective on Sun Life Financial from C$76.00 to C$77.00 and gave the stock an outperform rating in a research report on Friday. Finally, National Bankshares upped their target price on Sun Life Financial from C$71.00 to C$72.00 and gave the company a sector perform rating in a research report on Tuesday, January 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of C$75.91.

Get Our Latest Research Report on Sun Life Financial

Sun Life Financial Stock Down 0.6 %

Shares of TSE:SLF opened at C$71.07 on Friday. Sun Life Financial has a 52-week low of C$60.01 and a 52-week high of C$71.64. The company has a market capitalization of C$41.55 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 1.13 and a beta of 0.97. The company has a debt-to-equity ratio of 78.47, a quick ratio of 84,866.00 and a current ratio of 1.78. The company has a fifty day moving average of C$68.94 and a 200-day moving average of C$67.40.

Sun Life Financial (TSE:SLFGet Free Report) (NYSE:SLF) last issued its quarterly earnings data on Monday, November 13th. The financial services provider reported C$1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of C$1.58 by C$0.01. Sun Life Financial had a net margin of 10.27% and a return on equity of 13.98%. The business had revenue of C$2.44 billion during the quarter. On average, equities analysts predict that Sun Life Financial will post 6.7808349 EPS for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Shareholders of record on Wednesday, February 28th will be given a $0.78 dividend. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.75. The ex-dividend date is Tuesday, February 27th. This represents a $3.12 annualized dividend and a yield of 4.39%. Sun Life Financial’s payout ratio is currently 59.32%.

Insider Transactions at Sun Life Financial

In other news, Director Kevin Strain sold 15,986 shares of the business’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of C$69.69, for a total transaction of C$1,114,000.40. In other Sun Life Financial news, Senior Officer Jacques Jr. Goulet sold 124,639 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of C$70.07, for a total transaction of C$8,732,956.17. Also, Director Kevin Strain sold 15,986 shares of the business’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of C$69.69, for a total transaction of C$1,114,000.40. Corporate insiders own 0.02% of the company’s stock.

About Sun Life Financial

(Get Free Report)

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company provides financial advice, asset management, and investments related products.

Further Reading

Analyst Recommendations for Sun Life Financial (TSE:SLF)

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