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

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective hoisted by investment analysts at TD from C$107.00 to C$121.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. TD’s target price indicates a potential upside of 5.49% from the stock’s current price.

Several other brokerages also recently weighed in on SLF. Evercore downgraded Sun Life Financial from an “outperform” rating to a “hold” rating and set a C$111.00 target price for the company. in a research note on Monday, July 13th. Barclays lifted their price target on shares of Sun Life Financial from C$84.00 to C$85.00 in a research note on Wednesday, April 8th. BMO Capital Markets boosted their price target on shares of Sun Life Financial from C$99.00 to C$105.00 in a report on Friday, May 8th. Desjardins set a C$101.00 price objective on shares of Sun Life Financial and gave the stock a “buy” rating in a research report on Friday, April 17th. Finally, Scotiabank increased their price objective on shares of Sun Life Financial from C$98.00 to C$111.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Sun Life Financial has a consensus rating of “Moderate Buy” and a consensus target price of C$107.82.

Sun Life Financial Price Performance

Shares of Sun Life Financial stock opened at C$114.70 on Tuesday. The firm has a market cap of C$63.58 billion, a PE ratio of 21.36, a P/E/G ratio of 1.33 and a beta of 0.79. Sun Life Financial has a twelve month low of C$77.38 and a twelve month high of C$115.45. The company has a quick ratio of 84,866.00, a current ratio of 6.03 and a debt-to-equity ratio of 32.51. The business has a 50-day moving average price of C$107.12 and a 200 day moving average price of C$95.92.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share (EPS) for the quarter. Sun Life Financial had a return on equity of 12.89% and a net margin of 9.12%.The company had revenue of C$8.73 billion for the quarter. Sell-side analysts predict that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Insider Transactions at Sun Life Financial

In other news, Director Kevin Strain sold 104,744 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of C$96.99, for a total value of C$10,159,120.56. Following the completion of the sale, the director directly owned 42,000 shares in the company, valued at C$4,073,580. This represents a 71.38% decrease in their ownership of the stock. Also, insider Jacques Jr. Goulet sold 35,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of C$97.80, for a total value of C$3,423,000.00. Following the completion of the sale, the insider directly owned 1,054 shares of the company’s stock, valued at approximately C$103,081.20. This represents a 97.08% decrease in their position. In the last quarter, insiders sold 380,998 shares of company stock valued at $38,271,605. Company insiders own 0.03% of the company’s stock.

Sun Life Financial Company Profile

Sun Life Financial is one of Canada’s Big Three life insurance companies along with Great-West Lifeco and Manulife. Sun Life provides insurance, retirement, and wealth-management services to individual and corporate customers in Canada, the United States, and Asia. It also owns MFS Investment Management, a Boston-based asset-management firm. Sun Life generates about a third of its profit from asset-management operations.