Sun Life Financial (TSE:SLF) Price Target Raised to C$87.00

Sun Life Financial (TSE:SLF - Free Report) NYSE: SLF had its price objective boosted by Barclays from C$82.00 to C$87.00 in a research note published on Monday morning,BayStreet.CA reports.

SLF has been the subject of several other research reports. Cormark upped their target price on shares of Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday, November 5th. Royal Bank of Canada raised their target price on Sun Life Financial from C$78.00 to C$82.00 in a research report on Wednesday, November 6th. Jefferies Financial Group lifted their target price on Sun Life Financial from C$90.00 to C$94.00 in a research note on Thursday, November 14th. CIBC increased their price target on Sun Life Financial from C$90.00 to C$96.00 in a research note on Wednesday, November 13th. Finally, TD Securities raised their price target on Sun Life Financial from C$81.00 to C$87.00 and gave the company a "hold" rating in a report on Thursday, November 14th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of C$84.64.

Sun Life Financial Stock Performance

SLF stock traded down C$1.13 during mid-day trading on Monday, reaching C$84.41. The company had a trading volume of 1,962,323 shares, compared to its average volume of 1,218,454. Sun Life Financial has a one year low of C$64.38 and a one year high of C$88.54. The stock has a market capitalization of C$48.66 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.33 and a beta of 0.94. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. The stock's 50-day simple moving average is C$84.34 and its two-hundred day simple moving average is C$76.37.

Sun Life Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Wednesday, November 27th were paid a $0.84 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $3.36 annualized dividend and a dividend yield of 3.98%. This is a boost from Sun Life Financial's previous quarterly dividend of $0.81. Sun Life Financial's payout ratio is currently 61.36%.

Insider Activity at Sun Life Financial

In other news, Senior Officer Linda Dougherty acquired 5,800 shares of Sun Life Financial stock in a transaction on Friday, November 15th. The stock was bought at an average cost of C$84.83 per share, with a total value of C$492,014.00. Also, Director Kevin Strain sold 85,943 shares of the firm's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of C$84.71, for a total transaction of C$7,280,231.53. Company insiders own 0.03% of the company's stock.

About Sun Life Financial

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.