CIBC Increases Sun Life Financial (SLF) Price Target to C$59.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective raised by CIBC from C$58.00 to C$59.00 in a research report report published on Thursday.

A number of other analysts have also recently commented on the stock. BMO Capital Markets upped their target price on shares of Sun Life Financial from C$61.00 to C$62.00 in a report on Thursday. Eight Capital upped their target price on shares of Sun Life Financial from C$55.00 to C$57.00 in a report on Thursday. Scotiabank reduced their target price on shares of Sun Life Financial from C$63.00 to C$61.00 and set an outperform rating for the company in a report on Friday, February 16th. Barclays upped their target price on shares of Sun Life Financial from C$55.00 to C$57.00 in a report on Friday, February 16th. Finally, Royal Bank of Canada upped their target price on shares of Sun Life Financial from C$56.00 to C$61.00 and gave the company an outperform rating in a report on Friday, February 16th. Five equities research analysts have rated the stock with a buy rating, The company has a consensus rating of Buy and a consensus price target of C$59.11.

Shares of SLF stock opened at C$54.44 on Thursday. Sun Life Financial has a 12 month low of C$43.51 and a 12 month high of C$55.80.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its earnings results on Wednesday, February 14th. The financial services provider reported C$1.05 EPS for the quarter, beating the Zacks’ consensus estimate of C$1.03 by C$0.02. Sun Life Financial had a net margin of 2.76% and a return on equity of 4.00%. The business had revenue of C$8.65 billion during the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Wednesday, May 30th will be paid a $0.475 dividend. The ex-dividend date of this dividend is Tuesday, May 29th. This is a boost from Sun Life Financial’s previous quarterly dividend of $0.46. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.49%.

In other news, insider Kevin Strain sold 12,511 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of C$53.84, for a total value of C$673,592.24. Also, insider Carolyn Diane Blair sold 3,890 shares of the stock in a transaction on Wednesday, March 7th. The stock was sold at an average price of C$54.09, for a total transaction of C$210,410.10.

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.

Analyst Recommendations for Sun Life Financial (TSE:SLF)

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