Royal Bank Of Canada Has Lowered Expectations for Sun Life Financial (TSE:SLF) Stock Price

Key Points

• Royal Bank of Canada has lowered its price target for Sun Life Financial from C$88.00 to C$84.00, which indicates a potential upside of 6.41% from the current stock price.
• Sun Life Financial has experienced mixed ratings from analysts, with one sell, three hold, four buy, and one strong buy rating, leading to a consensus rating of "Moderate Buy" and a consensus price target of C$86.67.
• Recent insider activity includes sales by senior officers totaling over C$16 million, highlighting potential concerns about the company's outlook.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its price objective reduced by equities researchers at Royal Bank Of Canada from C$88.00 to C$84.00 in a note issued to investors on Monday,BayStreet.CA reports. Royal Bank Of Canada's price objective suggests a potential upside of 6.41% from the company's current price.

A number of other brokerages also recently issued reports on SLF. Barclays downgraded Sun Life Financial from a "hold" rating to a "strong sell" rating in a report on Monday, July 7th. Scotiabank upgraded Sun Life Financial to a "hold" rating in a research note on Thursday, July 31st. Jefferies Financial Group reduced their price objective on Sun Life Financial from C$96.00 to C$90.00 in a research note on Monday, April 21st. TD Securities upped their target price on shares of Sun Life Financial from C$83.00 to C$86.00 and gave the stock a "hold" rating in a report on Friday, May 9th. Finally, National Bankshares downgraded shares of 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. One analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of C$86.67.

Sun Life Financial Price Performance

Shares of SLF stock traded up C$1.09 on Monday, reaching C$78.94. The company's stock had a trading volume of 686,122 shares, compared to its average volume of 2,094,354. The stock's 50 day simple moving average is C$86.65 and its 200-day simple moving average is C$83.54. Sun Life Financial has a 12-month low of C$65.79 and a 12-month high of C$91.11. The company has a quick ratio of 84,866.00, a current ratio of 92.19 and a debt-to-equity ratio of 26.00. The company has a market capitalization of C$45.09 billion, a P/E ratio of 11.91, a PEG ratio of 1.33 and a beta of 0.94.

Insider Buying and Selling at Sun Life Financial

In related news, Senior Officer Jacques Jr. Goulet sold 44,199 shares of Sun Life Financial stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of C$88.17, for a total value of C$3,897,025.83. Also, Senior Officer Daniel Fishbein sold 37,662 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of C$87.60, for a total transaction of C$3,299,191.20. Over the last 90 days, insiders sold 188,721 shares of company stock valued at $16,554,701. 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.

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