Sun Life Financial (TSE:SLF) Stock Price Expected to Rise, CIBC Analyst Says

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price raised by analysts at CIBC from C$80.00 to C$90.00 in a research report issued on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. CIBC’s target price suggests a potential upside of 14.29% from the company’s current price.

Several other analysts have also commented on the stock. Barclays set a C$76.00 price objective on shares of Sun Life Financial and gave the stock an “equal weight” rating in a report on Thursday, September 5th. TD Securities lowered their target price on Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Royal Bank of Canada lifted their price target on Sun Life Financial from C$76.00 to C$78.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Scotiabank increased their price objective on Sun Life Financial from C$73.00 to C$85.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Evercore dropped their target price on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of C$78.82.

Sun Life Financial Trading Down 0.4 %

Shares of Sun Life Financial stock traded down C$0.34 during midday trading on Wednesday, reaching C$78.75. 442,090 shares of the company’s stock traded hands, compared to its average volume of 2,015,737. The stock has a 50 day moving average of C$76.31 and a 200-day moving average of C$71.30. Sun Life Financial has a 12 month low of C$62.75 and a 12 month high of C$79.45. The company has a market cap of C$45.40 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 EPS for the quarter, topping the consensus estimate of C$1.58 by C$0.13. The business had revenue of C$8.92 billion during the quarter, compared to analyst estimates of C$9.18 billion. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. As a group, equities analysts expect that Sun Life Financial will post 6.9230769 EPS for the current fiscal year.

Insider Activity

In other news, Senior Officer Daniel Fishbein sold 15,999 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. In related news, Senior Officer Daniel Fishbein sold 15,999 shares of Sun Life Financial stock in a transaction on Friday, August 16th. The stock was sold at an average price of C$71.40, for a total value of C$1,142,323.80. Also, Director Stephanie Coyles bought 500 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of C$70.00 per share, for a total transaction of C$35,000.00. Following the acquisition, the director now owns 500 shares of the company’s stock, valued at C$35,000. Insiders own 0.03% of the company’s stock.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.