Sun Life Financial (TSE:SLF) Price Target Increased to C$60.50 by Analysts at Canaccord Genuity

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price increased by Canaccord Genuity from C$58.00 to C$60.50 in a report issued on Friday, BayStreet.CA reports. Canaccord Genuity’s price target would indicate a potential downside of 0.82% from the company’s previous close.

A number of other equities analysts have also weighed in on SLF. National Bank Financial lowered Sun Life Financial from an “outperform overweight” rating to a “sector perform overweight” rating and set a C$63.00 price objective for the company. in a research note on Thursday. Desjardins upped their price objective on Sun Life Financial from C$62.00 to C$67.00 in a research note on Friday. Royal Bank of Canada upped their price objective on Sun Life Financial from C$66.00 to C$67.00 and gave the stock an “outperform” rating in a research note on Friday. Evercore ISI dropped their price objective on Sun Life Financial from C$63.00 to C$62.00 in a research note on Thursday. Finally, CIBC upped their price objective on Sun Life Financial from C$53.00 to C$59.00 in a research note on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of C$61.71.

Shares of TSE SLF traded up C$0.02 during mid-day trading on Friday, reaching C$61.00. The company’s stock had a trading volume of 593,504 shares, compared to its average volume of 1,461,673. The firm has a market capitalization of $34.98 billion and a PE ratio of 15.51. The company has a debt-to-equity ratio of 16.62, a current ratio of 10,847.75 and a quick ratio of 10,082.25. The stock has a fifty day moving average of C$58.73 and a two-hundred day moving average of C$55.38. Sun Life Financial has a 52 week low of C$43.13 and a 52 week high of C$61.91.

In related news, Director Dean Connor sold 20,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of C$52.30, for a total transaction of C$1,045,952.00. Following the completion of the transaction, the director now directly owns 142,211 shares of the company’s stock, valued at C$7,437,293.99. Also, Senior Officer Mark Saunders sold 6,206 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of C$53.00, for a total value of C$328,918.00. Following the transaction, the insider now directly owns 35,766 shares of the company’s stock, valued at C$1,895,598. Over the last three months, insiders have sold 66,309 shares of company stock valued at $3,676,512.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. The company operates through five segments: Sun Life Financial Canada, Sun Life Financial United States, Sun Life Financial Asset Management, Sun Life Financial Asia, and Corporate.

See Also: How to identify percentage decliners

Analyst Recommendations for Sun Life Financial (TSE:SLF)

Receive News & Ratings for Sun Life Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sun Life Financial and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply