Sun Life Financial (TSE:SLF) Given New C$141.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies raised Sun Life Financial’s price target to C$141 from C$131, implying 22.5% potential upside. The analyst action contributes to a consensus “Moderate Buy” rating and average target of C$116.
• Sun Life shares rose 0.7% to C$115.10, near their 52-week high of C$118.99. The company reported quarterly EPS of C$2.02 and revenue of C$9.05 billion.
• Insiders sold approximately C$36.85 million of stock during the last quarter, while corporate insiders collectively own just 0.03% of the company.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its target price raised by equities researchers at Jefferies Financial Group from C$131.00 to C$141.00 in a note issued to investors on Monday,BayStreet.CA reports. Jefferies Financial Group's price objective would suggest a potential upside of 22.50% from the company's current price.

Several other equities research analysts also recently weighed in on the stock. Canadian Imperial Bank of Commerce upped their target price on shares of Sun Life Financial from C$102.00 to C$116.00 in a research note on Wednesday, July 15th. Barclays upped their price objective on Sun Life Financial from C$96.00 to C$98.00 in a research report on Friday. Evercore cut Sun Life Financial from an "outperform" rating to a "hold" rating and set a C$111.00 price objective on the stock. in a research note on Monday, July 13th. BMO Capital Markets boosted their target price on Sun Life Financial from C$99.00 to C$105.00 in a research note on Friday, May 8th. Finally, TD increased their price target on Sun Life Financial from C$121.00 to C$124.00 and gave the company a "buy" rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Sun Life Financial presently has an average rating of "Moderate Buy" and a consensus price target of C$116.00.

Sun Life Financial Trading Up 0.7%

Shares of SLF stock traded up C$0.85 during trading hours on Monday, hitting C$115.10. The company had a trading volume of 373,036 shares, compared to its average volume of 1,919,911. The company has a debt-to-equity ratio of 32.51, a current ratio of 6.03 and a quick ratio of 84,866.00. The stock has a market capitalization of C$63.74 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 1.33 and a beta of 0.80. The company's fifty day moving average is C$110.98 and its 200 day moving average is C$98.37. Sun Life Financial has a fifty-two week low of C$78.06 and a fifty-two week high of C$118.99.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last announced its earnings results on Thursday, August 6th. The financial services provider reported C$2.02 earnings per share (EPS) for the quarter. Sun Life Financial had a return on equity of 12.89% and a net margin of 9.12%.The company had revenue of C$9.05 billion for the quarter. Research analysts expect that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Melissa Jane Kennedy sold 7,366 shares of the business's stock in a transaction that occurred on Monday, May 25th. The stock was sold at an average price of C$101.49, for a total value of C$747,575.34. Following the transaction, the insider owned 13,916 shares of the company's stock, valued at approximately C$1,412,334.84. The trade was a 34.61% decrease in their ownership of the stock. Also, Director Kevin Strain sold 104,744 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of C$96.99, for a total value of C$10,159,120.56. Following the sale, the director owned 42,000 shares of the company's stock, valued at C$4,073,580. This trade represents a 71.38% decrease in their position. Insiders sold a total of 366,323 shares of company stock valued at $36,848,394 in the last quarter. Corporate insiders own 0.03% of the company's stock.

About Sun Life Financial

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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