Sun Life Financial (NYSE:SLF) (TSE:SLF)‘s stock had its “average” rating reissued by equities research analysts at Canaccord Genuity in a report issued on Friday. They currently have a $53.00 target price on the financial services provider’s stock. Canaccord Genuity’s target price indicates a potential upside of 44.49% from the stock’s current price.
Several other research analysts have also weighed in on SLF. Desjardins restated a “buy” rating on shares of Sun Life Financial in a research note on Tuesday, October 16th. Zacks Investment Research upgraded shares of Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Finally, ValuEngine lowered shares of Sun Life Financial from a “hold” rating to a “sell” rating in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $53.60.
SLF stock traded down $0.32 during midday trading on Friday, hitting $36.68. The company’s stock had a trading volume of 484,584 shares, compared to its average volume of 707,455. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 0.20. Sun Life Financial has a twelve month low of $35.78 and a twelve month high of $44.50. The firm has a market capitalization of $22.73 billion, a P/E ratio of 11.46 and a beta of 0.83.
Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, August 8th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.32. Sun Life Financial had a net margin of 9.24% and a return on equity of 13.44%. The firm had revenue of $5.29 billion for the quarter. During the same quarter in the previous year, the firm posted $1.12 earnings per share. As a group, equities research analysts forecast that Sun Life Financial will post 3.65 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC bought a new stake in shares of Sun Life Financial during the 1st quarter worth about $817,000. Suntrust Banks Inc. boosted its holdings in shares of Sun Life Financial by 22.3% during the 1st quarter. Suntrust Banks Inc. now owns 6,707 shares of the financial services provider’s stock worth $275,000 after buying an additional 1,225 shares during the period. Addenda Capital Inc. boosted its holdings in shares of Sun Life Financial by 107.7% during the 2nd quarter. Addenda Capital Inc. now owns 59,970 shares of the financial services provider’s stock worth $2,434,000 after buying an additional 31,100 shares during the period. ARP Americas LP bought a new stake in shares of Sun Life Financial during the 2nd quarter worth about $217,000. Finally, K.J. Harrison & Partners Inc boosted its holdings in shares of Sun Life Financial by 19.2% during the 2nd quarter. K.J. Harrison & Partners Inc now owns 10,255 shares of the financial services provider’s stock worth $412,000 after buying an additional 1,650 shares during the period. Institutional investors own 41.53% of the company’s stock.
About Sun Life Financial
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.
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