Sun Life Financial (TSE:SLF) Price Target Raised to C$118.00 at Scotia

Key Points

• Scotia raised Sun Life Financial’s price target to C$118 from C$110 while maintaining a “sector perform” rating, implying approximately 2.52% upside from the prior close.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of C$116; targets from other firms range from C$111 to C$125.
• Sun Life shares rose 0.7% to C$115.10, while the company recently reported C$2.02 in quarterly EPS on C$9.05 billion in revenue and a 12.89% return on equity.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its target price raised by stock analysts at Scotia from C$110.00 to C$118.00 in a research note issued on Monday,BayStreet.CA reports. The firm presently has a "sector perform" rating on the financial services provider's stock. Scotia's target price suggests a potential upside of 2.52% from the stock's previous close.

SLF has been the topic of a number of other reports. Desjardins boosted their price target on shares of Sun Life Financial from C$120.00 to C$122.00 and gave the stock a "buy" rating in a research note on Monday. Scotiabank lifted their price objective on shares of Sun Life Financial from C$98.00 to C$111.00 and gave the company a "sector perform" rating in a report on Wednesday, July 15th. 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. National Bank Financial increased their target price on shares of 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. Finally, Evercore cut shares of Sun Life Financial from an "outperform" rating to a "hold" rating and set a C$111.00 price target for the company. in a research report on Monday, July 13th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of C$116.00.

Sun Life Financial Trading Up 0.7%

TSE:SLF traded up C$0.85 during trading hours on Monday, reaching C$115.10. 373,036 shares of the stock were exchanged, compared to its average volume of 1,919,911. Sun Life Financial has a twelve month low of C$78.06 and a twelve month high of C$118.99. The business has a 50-day moving average of C$110.98 and a two-hundred day moving average of C$98.37. The company has a market capitalization of C$63.74 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 1.33 and a beta of 0.80. The company has a quick ratio of 84,866.00, a current ratio of 6.03 and a debt-to-equity ratio of 32.51.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last posted 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 return on equity of 12.89% and a net margin of 9.12%.The firm had revenue of C$9.05 billion for the quarter. On average, equities analysts predict that Sun Life Financial will post 6.9230769 EPS for the current year.

Insiders Place Their Bets

In other news, insider Helena Janina Pagano sold 17,283 shares of the business's stock in a transaction dated Monday, May 25th. The stock was sold at an average price of C$101.32, for a total transaction of C$1,751,113.56. Following the completion of the transaction, the insider directly owned 228 shares of the company's stock, valued at approximately C$23,100.96. The trade was a 98.70% decrease in their ownership of the stock. Also, insider Melissa Jane Kennedy sold 7,366 shares of the business's stock in a transaction dated 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 directly owned 13,916 shares of the company's stock, valued at approximately C$1,412,334.84. This represents a 34.61% decrease in their ownership of the stock. In the last ninety days, insiders have sold 366,323 shares of company stock worth $36,848,394. Corporate 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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