Sun Life Financial (TSE:SLF) Given New C$98.00 Price Target at Barclays

Key Points

• Barclays raised Sun Life Financial’s price target from C$96 to C$98, though the new target implied 13.79% downside from the prior close.
• Analyst sentiment remains broadly positive, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of C$110.82.
• Sun Life shares fell 1.7% to C$113.68, while the company recently reported quarterly EPS of C$2.02 and revenue of C$9.05 billion; insiders sold about 381,000 shares during the quarter.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its target price increased by Barclays from C$96.00 to C$98.00 in a research report issued to clients and investors on Friday,BayStreet.CA reports. Barclays's price objective indicates a potential downside of 13.79% from the stock's previous close.

SLF has been the topic of several other research reports. Evercore cut shares of Sun Life Financial from an "outperform" rating to a "hold" rating and set a C$111.00 price target on the stock. in a research report on Monday, July 13th. Canadian Imperial Bank of Commerce lifted their price objective on Sun Life Financial from C$102.00 to C$116.00 in a research report on Wednesday, July 15th. National Bank Financial upped their target price on Sun Life Financial from C$108.00 to C$125.00 and gave the stock an "outperform" rating in a report on Thursday, July 23rd. Jefferies Financial Group increased their target price on Sun Life Financial from C$115.00 to C$131.00 and gave the stock a "buy" rating in a research report on Tuesday, July 21st. Finally, BMO Capital Markets raised their target price on Sun Life Financial from C$99.00 to C$105.00 in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Sun Life Financial has an average rating of "Moderate Buy" and an average target price of C$110.82.

Sun Life Financial Trading Down 1.7%

SLF stock traded down C$1.91 on Friday, reaching C$113.68. The company's stock had a trading volume of 897,432 shares, compared to its average volume of 1,917,551. The business has a fifty day simple moving average of C$110.68 and a two-hundred day simple moving average of C$98.18. Sun Life Financial has a 12-month low of C$77.38 and a 12-month high of C$118.99. The firm has a market cap of C$63.01 billion, a PE ratio of 21.17, a PEG ratio of 1.33 and a beta of 0.80. 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.

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

Insider Buying and Selling at Sun Life Financial

In other news, insider Melissa Jane Kennedy sold 7,366 shares of the business's stock in a transaction 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 completion of the transaction, the insider owned 13,916 shares in the company, valued at C$1,412,334.84. The trade was a 34.61% decrease in their ownership of the stock. Also, insider Linda Dougherty sold 3,500 shares of the stock in a transaction on Monday, May 25th. The shares were sold at an average price of C$101.40, for a total value of C$354,900.00. In the last quarter, insiders sold 380,998 shares of company stock worth $38,271,605. 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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