Royal Bank Of Canada Issues Positive Forecast for Sun Life Financial (TSE:SLF) Stock Price

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target raised by research analysts at Royal Bank Of Canada from C$98.00 to C$119.00 in a report issued on Monday,BayStreet.CA reports. The firm currently has a “sector perform” rating on the financial services provider’s stock. Royal Bank Of Canada’s price target suggests a potential upside of 3.39% from the company’s previous close.

Other equities analysts have also issued research reports about the stock. Evercore lowered shares of Sun Life Financial from an “outperform” rating to a “hold” rating and set a C$111.00 price target for the company. in a report on Monday, July 13th. National Bank Financial raised their price objective on Sun Life Financial from C$108.00 to C$125.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. Scotiabank lifted their target price on 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. Canadian Imperial Bank of Commerce boosted their target price on Sun Life Financial from C$102.00 to C$116.00 in a research note on Wednesday, July 15th. Finally, Desjardins set a C$101.00 price target on Sun Life Financial and gave the stock a “buy” rating in a report on Friday, April 17th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$116.00.

Sun Life Financial Trading Up 0.7%

Sun Life Financial stock traded up C$0.85 during midday trading on Monday, hitting C$115.10. 373,036 shares of the stock were exchanged, compared to its average volume of 1,919,911. The company has a fifty day simple moving average of C$110.98 and a two-hundred day simple moving average of C$98.37. Sun Life Financial has a 52 week low of C$78.06 and a 52 week high of C$118.99. The stock has a market capitalization of C$63.74 billion, a PE 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.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued 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 net margin of 9.12% and a return on equity of 12.89%. The firm had revenue of C$9.05 billion during the quarter. Equities research analysts anticipate that Sun Life Financial will post 6.9230769 EPS for the current fiscal year.

Insider Buying and Selling at Sun Life Financial

In related news, insider Helena Janina Pagano sold 17,283 shares of the business’s 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 sale, the insider directly owned 228 shares of the company’s stock, valued at approximately C$23,100.96. The trade was a 98.70% decrease in their position. Also, insider Manjit Singh sold 188,312 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of C$103.20, for a total transaction of C$19,433,798.40. Following the completion of the transaction, the insider directly owned 547 shares of the company’s stock, valued at approximately C$56,450.40. The trade was a 99.71% decrease in their ownership of the stock. Insiders sold a total of 366,323 shares of company stock valued at $36,848,394 over the last quarter. 0.03% of the stock is currently 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.