Sun Life Financial (TSE:SLF) Given New C$94.00 Price Target at Scotiabank

Sun Life Financial (TSE:SLF - Free Report) NYSE: SLF had its price target reduced by Scotiabank from C$98.00 to C$94.00 in a research note published on Friday,BayStreet.CA reports.

Other equities research analysts have also issued reports about the stock. National Bank Financial upgraded shares of Sun Life Financial from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, January 14th. TD Securities lifted their price objective on Sun Life Financial from C$81.00 to C$87.00 and gave the stock a "hold" rating in a report on Thursday, November 14th. National Bankshares lowered their target price on Sun Life Financial from C$95.00 to C$93.00 and set an "outperform" rating on the stock in a report on Thursday, February 13th. Royal Bank of Canada boosted their price target on Sun Life Financial from C$78.00 to C$82.00 in a research note on Wednesday, November 6th. Finally, Jefferies Financial Group upped their price target on shares of Sun Life Financial from C$90.00 to C$94.00 in a research report on Thursday, November 14th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of C$87.10.

Sun Life Financial Stock Performance

SLF traded up C$0.61 during midday trading on Friday, hitting C$78.81. 4,997,448 shares of the company traded hands, compared to its average volume of 1,974,421. The company's 50-day moving average is C$84.15 and its 200 day moving average is C$79.72. Sun Life Financial has a 52 week low of C$64.38 and a 52 week high of C$88.54. The firm has a market capitalization of C$45.02 billion, a PE ratio of 11.89, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Wednesday, February 26th. Sun Life Financial's payout ratio is 48.87%.

Sun Life Financial Company Profile

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.