Sun Life Financial (TSE:SLF) Price Target Raised to C$85.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price hoisted by stock analysts at Scotiabank from C$73.00 to C$85.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price target points to a potential upside of 7.94% from the stock’s previous close.

Other equities analysts also recently issued research reports about the stock. Evercore decreased their price objective on shares of Sun Life Financial from C$76.00 to C$75.00 in a report on Thursday, July 11th. Barclays set a C$76.00 price target on shares of Sun Life Financial and gave the company an “equal weight” rating in a report on Thursday, September 5th. TD Securities dropped their price objective on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating on the stock in a research note on Tuesday, August 13th. National Bankshares lifted their target price on Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 13th. Finally, Jefferies Financial Group increased their price target on Sun Life Financial from C$81.00 to C$89.00 and gave the stock a “buy” rating in a research report on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of C$78.82.

Sun Life Financial Stock Down 0.4 %

Shares of SLF traded down C$0.34 during midday trading on Wednesday, hitting C$78.75. The company had a trading volume of 442,090 shares, compared to its average volume of 2,015,737. The stock has a market cap of C$45.40 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 1.33 and a beta of 0.94. The company’s 50 day moving average price is C$76.31 and its 200 day moving average price is C$71.30. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. Sun Life Financial has a 52 week low of C$62.75 and a 52 week high of C$79.45.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 earnings per share (EPS) for the quarter, beating the consensus estimate of C$1.58 by C$0.13. Sun Life Financial had a return on equity of 13.65% and a net margin of 9.90%. The firm had revenue of C$8.92 billion for the quarter, compared to analysts’ expectations of C$9.18 billion. On average, equities research analysts predict that Sun Life Financial will post 6.9230769 EPS for the current year.

Insider Buying and Selling at Sun Life Financial

In other Sun Life Financial news, Director Stephanie Coyles purchased 500 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at C$35,000. In other Sun Life Financial news, Senior Officer Linda Dougherty sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total value of C$150,590.00. Also, Director Stephanie Coyles purchased 500 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of C$70.00 per share, with a total value of C$35,000.00. Following the completion of the purchase, the director now owns 500 shares in the company, valued at C$35,000. 0.03% of the stock is owned by company insiders.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.