Scotiabank Has Lowered Expectations for Sun Life Financial (TSE:SLF) Stock Price

Key Points

• Scotiabank has reduced its price target for Sun Life Financial from C$88.00 to C$83.00, maintaining a "sector perform" rating, which reflects a potential upside of 5.14% from the company's previous close.
• Other analysts have also adjusted their ratings, with National Bankshares downgrading the stock from "outperform" to "sector perform" and TD Securities raising their target price from C$83.00 to C$86.00 while maintaining a "hold" rating.
• Sun Life Financial's stock saw an increase of C$1.09 on Monday, reaching C$78.94, with a market capitalization of C$45.09 billion and a 52-week trading range between C$65.79 and C$91.11.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its price target cut by analysts at Scotiabank from C$88.00 to C$83.00 in a research report issued to clients and investors on Monday,BayStreet.CA reports. The firm currently has a "sector perform" rating on the financial services provider's stock. Scotiabank's price target indicates a potential upside of 5.14% from the company's previous close.

A number of other equities research analysts have also commented on the stock. National Bankshares lowered shares of Sun Life Financial from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from C$93.00 to C$87.00 in a report on Friday. TD Securities raised 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. Barclays downgraded shares of Sun Life Financial from a "hold" rating to a "strong sell" rating in a report on Monday, July 7th. CIBC lowered their price objective on shares of Sun Life Financial from C$94.00 to C$89.00 and set an "outperform" rating on the stock in a report on Thursday, May 1st. Finally, Desjardins decreased their target price on shares of Sun Life Financial from C$95.00 to C$90.00 and set a "buy" rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sun Life Financial has a consensus rating of "Moderate Buy" and an average target price of C$86.67.

Sun Life Financial Stock Performance

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

Insiders Place Their Bets

In other Sun Life Financial news, Director Kevin Strain bought 3,850 shares of Sun Life Financial stock in a transaction on Thursday, June 5th. The shares were acquired at an average price of C$89.10 per share, for a total transaction of C$343,035.00. Also, Senior Officer Jacques Jr. Goulet sold 44,199 shares of Sun Life Financial stock in a transaction 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. In the last ninety days, insiders sold 188,721 shares of company stock worth $16,554,701. 0.03% of the stock is currently owned by 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.

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