Sun Life Financial (NYSE:SLF) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Key Points

• Royal Bank of Canada raised Sun Life Financial’s price target to $119 from $98 while maintaining a “sector perform” rating, implying 44.38% upside from the reported $82.42 share price.
• Analyst sentiment is broadly positive, with MarketBeat assigning the stock a “Moderate Buy” consensus rating and an average price target of $96.33.
• Sun Life exceeded quarterly earnings expectations, reporting $1.46 in EPS versus the $1.39 consensus estimate; institutional investors own approximately 52.26% of the company.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF had its price objective hoisted by Royal Bank Of Canada from $98.00 to $119.00 in a research report issued on Monday,Benzinga reports. The firm presently has a "sector perform" rating on the financial services provider's stock. Royal Bank Of Canada's price objective would suggest a potential upside of 44.38% from the stock's current price.

Several other equities analysts also recently weighed in on the stock. Argus set a $81.00 price target on shares of Sun Life Financial in a research note on Wednesday, June 10th. Wall Street Zen raised shares of Sun Life Financial from a "sell" rating to a "hold" rating in a research note on Sunday, July 26th. Weiss Ratings reiterated a "buy (b)" rating on shares of Sun Life Financial in a report on Monday, July 6th. BMO Capital Markets restated an "outperform" rating on shares of Sun Life Financial in a report on Friday, May 8th. Finally, Canadian Imperial Bank of Commerce restated a "neutral" rating on shares of Sun Life Financial in a research report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $96.33.

Sun Life Financial Stock Performance

Shares of NYSE:SLF traded up $0.51 during trading on Monday, reaching $82.42. The stock had a trading volume of 126,220 shares, compared to its average volume of 673,379. Sun Life Financial has a 1-year low of $56.61 and a 1-year high of $84.38. The stock has a market cap of $45.94 billion, a PE ratio of 19.27 and a beta of 0.88. The business has a fifty day moving average price of $78.88 and a 200-day moving average price of $71.01.

Sun Life Financial (NYSE:SLF - Get Free Report) TSE: SLF last posted its quarterly earnings data on Thursday, August 6th. The financial services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $1.39 by $0.07. Sun Life Financial had a return on equity of 17.99% and a net margin of 7.66%.The firm had revenue of $10.10 billion during the quarter, compared to the consensus estimate of $994.33 million. Sell-side analysts expect that Sun Life Financial will post 5.69 earnings per share for the current year.

Institutional Trading of Sun Life Financial

Several hedge funds have recently made changes to their positions in SLF. Louisbourg Investments Inc. lifted its holdings in Sun Life Financial by 3.0% in the first quarter. Louisbourg Investments Inc. now owns 5,105 shares of the financial services provider's stock worth $319,000 after acquiring an additional 150 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Sun Life Financial by 68.4% during the fourth quarter. Cornerstone Planning Group LLC now owns 411 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 167 shares during the last quarter. Candriam S.C.A. grew its holdings in shares of Sun Life Financial by 1.8% during the first quarter. Candriam S.C.A. now owns 9,794 shares of the financial services provider's stock valued at $612,000 after purchasing an additional 177 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Sun Life Financial by 4.7% during the 1st quarter. HB Wealth Management LLC now owns 4,158 shares of the financial services provider's stock worth $260,000 after purchasing an additional 187 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of Sun Life Financial by 3.5% in the 1st quarter. Sei Investments Co. now owns 5,788 shares of the financial services provider's stock worth $362,000 after purchasing an additional 196 shares during the last quarter. Hedge funds and other institutional investors own 52.26% of the company's stock.

Sun Life Financial Company Profile

Sun Life Financial Inc, founded in 1865 and headquartered in Toronto, Ontario, is an international financial services organization that provides a range of insurance, wealth management and asset management solutions. The company serves individual and institutional clients, offering products designed to protect against life and health risks, help clients save for retirement, and manage investments on behalf of customers and third parties.

Core business activities include life and health insurance, group benefits for employers, retirement and pension products, and wealth management services such as mutual funds and segregated fund solutions.

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