Sun Life Financial (TSE:SLF) Price Target Lowered to C$94.00 at Scotiabank

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

Other equities research analysts have also issued reports about the stock. TD Securities increased their target price 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. CIBC raised their price objective on Sun Life Financial from C$96.00 to C$97.00 in a report on Thursday, January 30th. Cormark boosted their price objective on Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday, November 5th. National Bank Financial upgraded Sun Life Financial from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 14th. Finally, National Bankshares cut their price target on shares of Sun Life Financial from C$95.00 to C$93.00 and set an “outperform” rating for the company in a report on Thursday. Two research 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. According to MarketBeat.com, Sun Life Financial currently has a consensus rating of “Moderate Buy” and a consensus target price of C$87.10.

Sun Life Financial Stock Performance

Shares of TSE SLF opened at C$78.20 on Friday. The company has a market capitalization of C$44.67 billion, a PE ratio of 11.80, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The company has a debt-to-equity ratio of 26.00, a quick ratio of 84,866.00 and a current ratio of 92.19. The company’s fifty day moving average price is C$84.53 and its 200 day moving average price is C$79.51. Sun Life Financial has a 1 year low of C$64.38 and a 1 year high of C$88.54.

Sun Life Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Wednesday, February 26th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 4.30%. Sun Life Financial’s dividend payout ratio is currently 48.87%.

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.