Sun Life Financial (SLF) Given New C$53.00 Price Target at Canaccord Genuity

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Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price lowered by Canaccord Genuity from C$54.00 to C$53.00 in a research report sent to investors on Friday.

SLF has been the topic of several other reports. Evercore dropped their target price on Sun Life Financial from C$60.50 to C$60.00 in a research report on Monday, October 15th. BMO Capital Markets dropped their target price on Sun Life Financial from C$62.00 to C$60.00 in a research report on Friday, August 10th. National Bank Financial dropped their target price on Sun Life Financial from C$59.00 to C$55.00 and set an outperform rating on the stock in a research report on Thursday. CIBC dropped their target price on Sun Life Financial from C$59.00 to C$57.00 in a research report on Monday, October 29th. Finally, TD Securities dropped their target price on Sun Life Financial from C$63.00 to C$62.00 in a research report on Thursday, August 9th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of C$57.71.

TSE SLF traded down C$0.18 during trading hours on Friday, hitting C$48.45. The company had a trading volume of 1,192,800 shares, compared to its average volume of 1,099,038. Sun Life Financial has a fifty-two week low of C$46.96 and a fifty-two week high of C$56.09. The company has a quick ratio of 448.92, a current ratio of 481.58 and a debt-to-equity ratio of 18.98.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its earnings results on Wednesday, August 8th. The financial services provider reported C$1.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of C$1.15 by C$0.05. The company had revenue of C$6.83 billion during the quarter. As a group, equities research analysts anticipate that Sun Life Financial will post 5.01311658165698 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 31st. Stockholders of record on Wednesday, November 28th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 4.13%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Tuesday, November 27th. Sun Life Financial’s dividend payout ratio (DPR) is 46.50%.

In other news, insider Stephen Peacher sold 89,485 shares of the firm’s stock in a transaction on Thursday, September 6th. The stock was sold at an average price of C$51.39, for a total transaction 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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