Sun Life Financial (TSE:SLF) Price Target Raised to C$98.00 at Barclays

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price hoisted by analysts at Barclays from C$96.00 to C$98.00 in a report issued on Friday,BayStreet.CA reports. Barclays‘s target price would indicate a potential downside of 13.79% from the company’s current price.

Other analysts have also issued reports about the stock. Canadian Imperial Bank of Commerce boosted their target price on shares of Sun Life Financial from C$102.00 to C$116.00 in a research report on Wednesday, July 15th. Scotiabank increased their price target on shares of Sun Life Financial from C$98.00 to C$111.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 15th. BMO Capital Markets lifted their price target on shares of Sun Life Financial from C$99.00 to C$105.00 in a research note on Friday, May 8th. Jefferies Financial Group boosted their price objective on shares of Sun Life Financial from C$115.00 to C$131.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. Finally, Evercore lowered 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 note on Monday, July 13th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of C$110.82.

Sun Life Financial Stock Performance

SLF stock traded down C$1.91 during trading on Friday, reaching C$113.68. The stock had a trading volume of 897,432 shares, compared to its average volume of 1,917,551. The firm has a market cap of C$63.01 billion, a PE ratio of 21.17, a PEG ratio of 1.33 and a beta of 0.80. The company has a current ratio of 6.03, a quick ratio of 84,866.00 and a debt-to-equity ratio of 32.51. The stock’s 50 day moving average is C$110.68 and its two-hundred day moving average is C$98.18. Sun Life Financial has a 52 week low of C$77.38 and a 52 week high of C$118.99.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings results 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. As a group, equities analysts anticipate that Sun Life Financial will post 6.9230769 earnings per share for the current year.

Insider Activity at Sun Life Financial

In other news, insider Helena Janina Pagano sold 17,283 shares of the stock in a transaction on Monday, May 25th. The shares were sold at an average price of C$101.32, for a total value of C$1,751,113.56. Following the completion of the sale, the insider directly owned 228 shares of the company’s stock, valued at C$23,100.96. This represents a 98.70% decrease in their ownership of the stock. Also, insider Manjit Singh sold 188,312 shares of Sun Life Financial stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of C$103.20, for a total transaction of C$19,433,798.40. Following the transaction, the insider owned 547 shares in the company, valued at approximately C$56,450.40. This trade represents a 99.71% decrease in their position. Insiders have sold 380,998 shares of company stock worth $38,271,605 in 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. Sun Life generates about a third of its profit from asset-management operations.