CIBC Has Lowered Expectations for Sun Life Financial (TSE:SLF) Stock Price

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price lowered by CIBC from C$97.00 to C$95.00 in a research note released on Friday,BayStreet.CA reports.

Other research analysts have also issued research reports about the company. Cormark upped their price objective on Sun Life Financial from C$82.00 to C$85.00 in a report on Tuesday, November 5th. Jefferies Financial Group increased their price target on shares of Sun Life Financial from C$90.00 to C$94.00 in a report on Thursday, November 14th. Barclays boosted their price objective on shares of Sun Life Financial from C$82.00 to C$87.00 in a report on Monday, January 6th. TD Securities increased their target price on shares of 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. Finally, National Bankshares decreased their price target on Sun Life Financial from C$95.00 to C$93.00 and set an “outperform” rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$87.10.

Sun Life Financial Stock Performance

TSE SLF opened at C$78.20 on Friday. The stock has a market capitalization of C$44.67 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.33 and a beta of 0.94. The business’s 50 day moving average is C$84.53 and its two-hundred day moving average is C$79.51. Sun Life Financial has a 12-month low of C$64.38 and a 12-month high of C$88.54. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00.

Sun Life Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Wednesday, February 26th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 4.30%. Sun Life Financial’s dividend payout ratio (DPR) is presently 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.