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

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price increased by investment analysts at Scotia from C$110.00 to C$118.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a “sector perform” rating on the financial services provider’s stock. Scotia’s price target points to a potential upside of 2.52% from the company’s previous close.

A number of other equities analysts also recently issued reports on SLF. Barclays upped their price target on Sun Life Financial from C$96.00 to C$98.00 in a report on Friday. Scotiabank raised their price objective on shares of Sun Life Financial from C$98.00 to C$111.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. Evercore downgraded shares of Sun Life Financial from an “outperform” rating to a “hold” rating and set a C$111.00 price objective for the company. in a research report on Monday, July 13th. BMO Capital Markets upped their target price on shares of Sun Life Financial from C$99.00 to C$105.00 in a report on Friday, May 8th. Finally, Desjardins increased their target price on shares of Sun Life Financial from C$120.00 to C$122.00 and gave the company a “buy” rating in a research report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Sun Life Financial has a consensus rating of “Moderate Buy” and an average price target of C$116.00.

Sun Life Financial Stock Up 0.7%

Sun Life Financial stock traded up C$0.85 during midday trading on Monday, reaching C$115.10. The company’s stock had a trading volume of 373,036 shares, compared to its average volume of 1,919,911. The company has a market cap of C$63.74 billion, a P/E ratio of 19.51, a P/E/G ratio of 1.33 and a beta of 0.80. 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 simple moving average of C$110.98 and a 200-day simple moving average of C$98.37. Sun Life Financial has a fifty-two week low of C$78.06 and a fifty-two week high of C$118.99.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings data on Thursday, August 6th. The financial services provider reported C$2.02 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 business had revenue of C$9.05 billion during the quarter. On average, research analysts expect that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Melissa Jane Kennedy sold 7,366 shares of the stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$101.49, for a total value of C$747,575.34. Following the completion of the sale, the insider directly owned 13,916 shares of the company’s stock, valued at approximately C$1,412,334.84. This represents a 34.61% 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 C$103,081.20. The trade was a 97.08% decrease in their ownership of the stock. Insiders have sold a total of 366,323 shares of company stock worth $36,848,394 over the last ninety days. 0.03% of the stock is owned by corporate insiders.

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.