Sun Life Financial (TSE:SLF) PT Raised to C$59.00 at CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective boosted by equities researchers at CIBC from C$53.00 to C$59.00 in a note issued to investors on Friday, BayStreet.CA reports. CIBC’s price objective would suggest a potential downside of 3.28% from the company’s previous close.

Several other brokerages have also recently issued reports on SLF. National Bank Financial cut Sun Life Financial from an “outperform overweight” rating to a “sector perform overweight” rating and set a C$63.00 target price on the stock. in a research report on Thursday. Evercore ISI dropped their target price on Sun Life Financial from C$63.00 to C$62.00 in a research report on Thursday. Royal Bank of Canada increased their target price on Sun Life Financial from C$66.00 to C$67.00 and gave the company an “outperform” rating in a research report on Friday. Evercore lowered their price objective on Sun Life Financial from C$63.00 to C$62.00 in a research report on Thursday. Finally, Desjardins raised their price objective on Sun Life Financial from C$62.00 to C$67.00 in a research report on Friday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of C$61.71.

TSE SLF traded up C$0.02 during midday trading on Friday, hitting C$61.00. 593,504 shares of the company traded hands, compared to its average volume of 1,461,673. 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 company has a market cap of $34.98 billion and a PE ratio of 15.51. The company’s 50-day simple moving average is C$58.73 and its 200-day simple moving average is 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 other news, Director Dean Connor sold 28,103 shares of the firm’s stock in a transaction on Monday, November 4th. The stock was sold at an average price of C$59.44, for a total value of C$1,670,442.32. Following the completion of the sale, the director now owns 86,047 shares of the company’s stock, valued at approximately C$5,114,633.68. Also, Senior Officer Stephen Peacher sold 12,000 shares of the firm’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of C$52.60, for a total value of C$631,200.00. Following the completion of the transaction, the insider now owns 15,407 shares of the company’s stock, valued at approximately C$810,408.20. Insiders sold a total of 66,309 shares of company stock valued at $3,676,512 in the last three months.

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.

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Analyst Recommendations for Sun Life Financial (TSE:SLF)

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