TD Securities Increases Sun Life Financial (TSE:SLF) Price Target to C$75.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price boosted by TD Securities from C$73.00 to C$75.00 in a research note issued to investors on Friday, BayStreet.CA reports. The firm currently has a hold rating on the financial services provider’s stock.

Several other research firms have also recently commented on SLF. Desjardins upped 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 research report on Friday, February 9th. CIBC increased their price objective on shares of Sun Life Financial from C$75.00 to C$77.00 and gave the company an outperform rating in a report on Friday, February 9th. BMO Capital Markets increased their price objective on shares of Sun Life Financial from C$70.00 to C$80.00 and gave the company an outperform rating in a report on Thursday, January 25th. Royal Bank of Canada increased their price objective on shares of Sun Life Financial from C$76.00 to C$77.00 and gave the company an outperform rating in a report on Friday, February 9th. Finally, Evercore increased their price objective on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the company an outperform rating in a report on Tuesday, January 23rd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of C$76.82.

Sun Life Financial Price Performance

TSE SLF opened at C$69.95 on Friday. Sun Life Financial has a 52 week low of C$61.84 and a 52 week high of C$74.94. The company has a current ratio of 6.81, a quick ratio of 84,866.00 and a debt-to-equity ratio of 78.47. The stock has a market cap of C$40.74 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.25 and a beta of 0.96. The company has a 50-day moving average price of C$72.78 and a two-hundred day moving average price of C$69.36.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last posted 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 during the quarter. Analysts forecast that Sun Life Financial will post 6.9036382 EPS for the current year.

Sun Life Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Wednesday, February 28th were paid a dividend of $0.78 per share. The ex-dividend date was Tuesday, February 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.75. This represents a $3.12 annualized dividend and a yield of 4.46%. Sun Life Financial’s dividend payout ratio is currently 59.32%.

Insider Activity at Sun Life Financial

In related news, Senior Officer Daniel Fishbein sold 16,000 shares of the 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. Company insiders own 0.03% of the company’s stock.

About Sun Life Financial

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.