Sun Life Financial (TSE:SLF) Given New C$93.00 Price Target at CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective reduced by research analysts at CIBC from C$94.00 to C$93.00 in a note issued to investors on Friday,BayStreet.CA reports. CIBC’s price objective would indicate a potential upside of 13.25% from the stock’s previous close.

Several other research firms have also issued reports on SLF. TD Securities reduced their price objective on shares of Sun Life Financial from C$101.00 to C$99.00 and set a “buy” rating for the company in a research note on Thursday. National Bank Financial cut Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 7th. Scotiabank decreased their price target on Sun Life Financial from C$88.00 to C$83.00 and set a “sector perform” rating for the company in a research note on Monday, August 11th. Argus raised Sun Life Financial to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Royal Bank Of Canada reduced their target price on Sun Life Financial from C$88.00 to C$84.00 in a report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of C$90.00.

Sun Life Financial Stock Down 1.5%

Shares of TSE SLF traded down C$1.29 during trading hours on Friday, hitting C$82.12. The stock had a trading volume of 2,653,805 shares, compared to its average volume of 2,027,613. The firm’s 50-day moving average price is C$83.80 and its two-hundred day moving average price is C$84.70. Sun Life Financial has a 52 week low of C$74.56 and a 52 week high of C$91.11. The company has a market capitalization of C$46.03 billion, a P/E ratio of 14.56, a P/E/G ratio of 1.33 and a beta of 0.83. The company has a debt-to-equity ratio of 26.00, a quick ratio of 84,866.00 and a current ratio of 92.19.

Insider Transactions at Sun Life Financial

In related news, insider Thomas Murphy bought 3,389 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The shares were acquired at an average price of C$79.37 per share, with a total value of C$268,973.75. Following the completion of the transaction, the insider owned 3,389 shares of the company’s stock, valued at C$268,973.75. The trade was a ∞ increase in their position. Insiders have acquired a total of 4,262 shares of company stock worth $338,105 over the last 90 days. Insiders own 0.03% of the company’s stock.

About Sun Life Financial

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.