Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price lowered by National Bank Financial from C$59.00 to C$55.00 in a research note published on Thursday morning. The brokerage currently has an outperform rating on the financial services provider’s stock.
Several other equities analysts have also issued reports on SLF. BMO Capital Markets reduced their target price on Sun Life Financial from C$62.00 to C$60.00 in a report on Friday, August 10th. Cormark set a C$60.00 target price on Sun Life Financial in a report on Friday, August 10th. Desjardins reduced their target price on Sun Life Financial from C$60.00 to C$58.00 in a report on Tuesday, October 16th. Canaccord Genuity set a C$58.00 target price on Sun Life Financial and gave the company a hold rating in a report on Tuesday, July 24th. Finally, TD Securities reduced their target price on Sun Life Financial from C$63.00 to C$62.00 in a report on Thursday, August 9th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Sun Life Financial currently has an average rating of Buy and an average target price of C$57.71.
Shares of Sun Life Financial stock traded down C$0.18 on Thursday, hitting C$48.45. The company had a trading volume of 1,192,774 shares, compared to its average volume of 1,099,038. Sun Life Financial has a 1 year low of C$46.96 and a 1 year high of C$56.09. The company has a debt-to-equity ratio of 18.98, a current ratio of 481.58 and a quick ratio of 448.92.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Wednesday, November 28th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, November 27th. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 4.13%. Sun Life Financial’s dividend payout ratio is currently 46.50%.
In other news, insider Stephen Peacher sold 89,485 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of C$51.39, for a total value of C$4,598,634.15.
Sun Life Financial Company Profile
Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients, high-net-worth individuals, and families. It operates through Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate segments.
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