Sun Life Financial (TSE:SLF) Price Target Raised to C$124.00 at TD

Key Points

• TD raised Sun Life Financial’s price target to C$124 from C$121 and maintained a “buy” rating, implying 9.08% upside from the reported trading price.
• Analyst sentiment is broadly positive, with Sun Life carrying a “Moderate Buy” consensus rating and an average price target of C$110.82; targets from other firms range as high as C$131.
• Sun Life reported quarterly EPS of C$2.02 on C$9.05 billion in revenue, while its shares traded at C$113.68 and remained near their 52-week high of C$118.99.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its price target raised by investment analysts at TD from C$121.00 to C$124.00 in a report released on Friday,BayStreet.CA reports. The firm presently has a "buy" rating on the financial services provider's stock. TD's price objective suggests a potential upside of 9.08% from the company's current price.

Several other research analysts have also commented on the company. National Bank Financial lifted their price target on Sun Life Financial from C$108.00 to C$125.00 and gave the stock an "outperform" rating in a research report on Thursday, July 23rd. BMO Capital Markets raised their target price on shares of Sun Life Financial from C$99.00 to C$105.00 in a research report on Friday, May 8th. Jefferies Financial Group lifted their target price on shares of Sun Life Financial from C$115.00 to C$131.00 and gave the company a "buy" rating in a report on Tuesday, July 21st. Evercore downgraded 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. Finally, Barclays increased their price target on shares of Sun Life Financial from C$96.00 to C$98.00 in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, Sun Life Financial has an average rating of "Moderate Buy" and an average target price of C$110.82.

Sun Life Financial Stock Performance

TSE SLF traded down C$1.91 during trading hours on Friday, hitting C$113.68. The company had a trading volume of 897,432 shares, compared to its average volume of 1,917,551. 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 has a 1-year low of C$77.38 and a 1-year high of C$118.99. The company has a market cap of C$63.01 billion, a PE ratio of 21.17, a price-to-earnings-growth ratio of 1.33 and a beta of 0.80. The business has a 50 day moving average of C$110.68 and a 200-day moving average of C$98.18.

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 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. As a group, equities research analysts expect that Sun Life Financial will post 6.9230769 EPS for the current year.

Insider Transactions at Sun Life Financial

In other Sun Life Financial news, insider Linda Dougherty sold 3,500 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$101.40, for a total transaction of C$354,900.00. Also, insider Jacques Jr. Goulet sold 35,000 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$97.80, for a total value of C$3,423,000.00. Following the transaction, the insider directly owned 1,054 shares of the company's stock, valued at approximately C$103,081.20. This trade represents a 97.08% decrease in their ownership of the stock. Insiders have sold 380,998 shares of company stock valued at $38,271,605 over the last 90 days. 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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