Barclays Boosts Sun Life Financial (TSE:SLF) Price Target to C$84.00

Key Points

• Barclays raised the price target for Sun Life Financial from C$82.00 to C$84.00, indicating a potential downside of 2.48% from the current price, while maintaining an "underweight" rating on the stock.
• TD Securities upgraded the stock from "hold" to "buy" with a target price increase to C$101.00, contrasting other analysts like the Royal Bank of Canada which lowered their target to C$84.00.
• Sun Life Financial's share price increased by 1.5% during trading, reaching C$86.14, and currently holds an average rating of "Moderate Buy" with a consensus price target of C$88.11.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its price target raised by equities researchers at Barclays from C$82.00 to C$84.00 in a report issued on Wednesday,BayStreet.CA reports. The brokerage presently has an "underweight" rating on the financial services provider's stock. Barclays's price target would suggest a potential downside of 2.48% from the company's current price.

SLF has been the topic of several other research reports. TD Securities raised Sun Life Financial from a "hold" rating to a "buy" rating and boosted their target price for the company from C$89.00 to C$101.00 in a research report on Wednesday. Royal Bank Of Canada dropped their price objective on Sun Life Financial from C$88.00 to C$84.00 in a report on Monday, August 11th. Desjardins dropped their price objective on Sun Life Financial from C$95.00 to C$90.00 and set a "buy" rating for the company in a report on Monday, August 11th. National Bankshares cut Sun Life Financial from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from C$93.00 to C$87.00 in a report on Friday, August 8th. Finally, Argus upgraded Sun Life Financial to a "strong-buy" rating in a report on Thursday, September 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Sun Life Financial has an average rating of "Moderate Buy" and a consensus price target of C$88.11.

Sun Life Financial Trading Up 1.5%

Shares of TSE SLF traded up C$1.27 during trading hours on Wednesday, hitting C$86.14. 755,942 shares of the company traded hands, compared to its average volume of 2,065,218. The stock has a market capitalization of C$48.28 billion, a price-to-earnings ratio of 15.27, a price-to-earnings-growth ratio of 1.33 and a beta of 0.84. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00. The company's 50 day moving average price is C$81.79 and its 200 day moving average price is C$83.70. Sun Life Financial has a 12 month low of C$74.56 and a 12 month high of C$91.11.

Insider Buying and Selling at Sun Life Financial

In other Sun Life Financial news, insider Thomas Murphy bought 3,389 shares of Sun Life Financial stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average cost of C$79.37 per share, with a total value of C$268,973.75. Following the transaction, the insider directly owned 3,389 shares of the company's stock, valued at approximately C$268,973.75. This represents a ∞ increase in their position. In the last three months, insiders acquired 4,262 shares of company stock worth $338,105. Corporate insiders own 0.03% of the company's stock.

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.

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