National Bank Financial Issues Positive Forecast for Sun Life Financial (TSE:SLF) Stock Price

Key Points

• National Bank Financial raised its target price on Sun Life Financial to C$125 from C$108 and kept an outperform rating, implying about 9.4% upside from the prior close.
• Several other brokers also turned more bullish recently, including Jefferies and CIBC, though Evercore downgraded the stock to hold. Overall, MarketBeat data shows a Moderate Buy consensus with an average target price of C$109.36.
• Sun Life shares were down 0.4% to C$114.28 in Thursday trading, near their 52-week high of C$115.45. The company reported C$1.89 EPS in its latest quarter, and analysts expect about 6.92 EPS for the current fiscal year.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its target price raised by stock analysts at National Bank Financial from C$108.00 to C$125.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. National Bank Financial's price objective would suggest a potential upside of 9.38% from the company's previous close.

Several other analysts have also commented on SLF. Jefferies Financial Group raised their price objective on shares of Sun Life Financial from C$115.00 to C$131.00 and gave the stock a "buy" rating in a report on Tuesday. Canadian Imperial Bank of Commerce increased their price objective on shares of Sun Life Financial from C$102.00 to C$116.00 in a research report on Wednesday, July 15th. Evercore downgraded Sun Life Financial from an "outperform" rating to a "hold" rating and set a C$111.00 target price on the stock. in a research note on Monday, July 13th. Barclays lifted their price target on shares of Sun Life Financial from C$84.00 to C$85.00 in a research note on Wednesday, April 8th. Finally, Scotiabank increased their target price on Sun Life Financial from C$98.00 to C$111.00 and gave the company a "sector perform" rating in a report on Wednesday, July 15th. One research 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 issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of C$109.36.

Sun Life Financial Trading Down 0.4%

Shares of TSE SLF traded down C$0.42 during mid-day trading on Thursday, hitting C$114.28. The stock had a trading volume of 457,510 shares, compared to its average volume of 1,907,750. The firm has a market cap of C$63.35 billion, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 1.33 and a beta of 0.79. Sun Life Financial has a 1 year low of C$77.38 and a 1 year high of C$115.45. The company has a debt-to-equity ratio of 32.51, a quick ratio of 84,866.00 and a current ratio of 6.03. The business has a 50 day moving average price of C$107.12 and a two-hundred day moving average price of C$95.92.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last posted its earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 earnings per share (EPS) for the quarter. The company had revenue of C$8.73 billion for the quarter. Sun Life Financial had a return on equity of 12.89% and a net margin of 9.12%. On average, equities analysts anticipate that Sun Life Financial will post 6.9230769 EPS for the current fiscal year.

Insider Activity

In related news, insider Linda Dougherty sold 3,500 shares of the business's stock in a transaction dated Monday, May 25th. The stock was sold at an average price of C$101.40, for a total value of C$354,900.00. Also, insider Helena Janina Pagano sold 17,283 shares of the company's stock in a transaction that occurred on Monday, May 25th. The stock was 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 in the company, valued at C$23,100.96. This trade represents a 98.70% decrease in their ownership of the stock. Over the last 90 days, insiders have sold 380,998 shares of company stock valued at $38,271,605. Company 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. Sun Life generates about a third of its profit from asset-management operations.

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