Sun Life Financial Inc (SLF) Increases Dividend to $0.44 Per Share

Sun Life Financial Inc (TSE:SLF) (NYSE:SLF) announced a quarterly dividend on Tuesday, May 9th. Investors of record on Wednesday, May 31st will be given a dividend of 0.435 per share by the financial services provider on Friday, June 30th. This represents a $1.74 annualized dividend and a yield of 3.91%. This is a positive change from Sun Life Financial’s previous quarterly dividend of $0.42.

Sun Life Financial (TSE:SLF) traded up 0.70% during mid-day trading on Friday, reaching $44.86. The company had a trading volume of 920,105 shares. Sun Life Financial has a one year low of $40.00 and a one year high of $53.75. The stock has a 50 day moving average price of $47.66 and a 200 day moving average price of $49.76. The company has a market capitalization of $27.53 billion and a P/E ratio of 11.08.

Dividend History for Sun Life Financial (TSE:SLF)

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A number of equities research analysts have recently commented on SLF shares. TD Securities cut their price target on shares of Sun Life Financial from C$57.00 to C$55.00 and set a “hold” rating on the stock in a report on Thursday, February 16th. CSFB cut shares of Sun Life Financial from an “outperform” rating to a “neutral” rating in a report on Wednesday, May 10th. BMO Capital Markets reiterated a “market perform” rating and set a C$51.00 price target on shares of Sun Life Financial in a report on Thursday, May 11th. National Bank Financial reiterated an “outperform” rating on shares of Sun Life Financial in a report on Monday, March 6th. Finally, Scotiabank cut shares of Sun Life Financial from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from C$56.00 to C$55.00 in a report on Thursday, February 16th. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of C$52.67.

Sun Life Financial Company Profile

Sun Life Financial Inc is the holding company of Sun Life Assurance Company of Canada. The Company is a financial services company providing a range of insurance, wealth and asset management solutions to individuals and corporate Clients. It operates through five segments. The Sun Life Financial Canada segment provides retail insurance and investment advice, products and services to people across Canada.

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