CIBC Issues Pessimistic Forecast for Sun Life Financial (TSE:SLF) Stock Price

Sun Life Financial (TSE:SLF - Free Report) NYSE: SLF had its price objective reduced by CIBC from C$95.00 to C$94.00 in a research note published on Tuesday morning,BayStreet.CA reports. They currently have an outperform rating on the financial services provider's stock.

Several other brokerages also recently issued reports on SLF. TD Securities raised their price objective on shares of Sun Life Financial from C$81.00 to C$87.00 and gave the stock a "hold" rating in a research note on Thursday, November 14th. National Bank Financial upgraded shares of Sun Life Financial from a "hold" rating to a "strong-buy" rating in a report on Tuesday, January 14th. National Bankshares reduced their price target on Sun Life Financial from C$95.00 to C$93.00 and set an "outperform" rating for the company in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on shares of Sun Life Financial from C$78.00 to C$82.00 in a research note on Wednesday, November 6th. Finally, Scotiabank decreased their price target on Sun Life Financial from C$98.00 to C$94.00 in a research note on Friday, February 14th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of C$87.00.

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Sun Life Financial Trading Up 1.9 %

Shares of TSE:SLF traded up C$1.47 during trading on Tuesday, reaching C$80.46. The company's stock had a trading volume of 3,756,758 shares, compared to its average volume of 2,299,781. The stock has a market capitalization of C$45.96 billion, a PE ratio of 12.14, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. Sun Life Financial has a 12 month low of C$64.38 and a 12 month high of C$88.54. The firm's 50 day simple moving average is C$82.99 and its two-hundred day simple moving average is C$80.37. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00.

Sun Life Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 31st will be given a $0.84 dividend. The ex-dividend date is Wednesday, February 26th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.18%. Sun Life Financial's dividend payout ratio (DPR) is currently 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.