Sun Life Financial (TSE:SLF) Stock Price Expected to Rise, Desjardins Analyst Says

Key Points

• Desjardins analysts raised the price target for Sun Life Financial (TSE:SLF) from C$90.00 to C$94.00, indicating a potential upside of 7.70%.
• Several analysts have varying ratings on the stock, with one strong buy, five buys, three holds, and one sell, resulting in an average rating of "Moderate Buy".
• Insider Thomas Murphy purchased 3,389 shares of Sun Life Financial, increasing his ownership, while insiders collectively bought 4,262 shares worth approximately C$338,105 over the last 90 days.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its price objective raised by research analysts at Desjardins from C$90.00 to C$94.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has a "buy" rating on the financial services provider's stock. Desjardins' price objective would suggest a potential upside of 7.70% from the stock's current price.

Several other equities research analysts have also recently weighed in on SLF. Scotiabank cut their price objective on shares of Sun Life Financial from C$88.00 to C$83.00 and set a "sector perform" rating for the company in a research report on Monday, August 11th. Argus raised Sun Life Financial to a "strong-buy" rating in a research note on Thursday, September 4th. Royal Bank Of Canada lowered their price objective on Sun Life Financial from C$88.00 to C$84.00 in a research note on Monday, August 11th. TD Securities raised shares of Sun Life Financial from a "hold" rating to a "buy" rating and increased their target price for the company from C$89.00 to C$101.00 in a research report on Wednesday, October 8th. Finally, Barclays increased their price target on Sun Life Financial from C$82.00 to C$84.00 and gave the stock an "underweight" rating in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$88.56.

Sun Life Financial Stock Performance

Shares of TSE:SLF traded down C$0.32 on Wednesday, hitting C$87.28. The company had a trading volume of 352,267 shares, compared to its average volume of 2,044,349. Sun Life Financial has a 1-year low of C$74.56 and a 1-year high of C$91.11. The stock has a market cap of C$48.92 billion, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.33 and a beta of 0.84. The stock has a 50 day moving average price of C$82.04 and a 200 day moving average price of C$83.86. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00.

Insider Activity

In other news, insider Thomas Murphy purchased 3,389 shares of Sun Life Financial stock in a transaction that occurred on Wednesday, August 13th. The shares were bought at an average cost of C$79.37 per share, with a total value of C$268,973.75. Following the completion of the purchase, the insider directly owned 3,389 shares in the company, valued at approximately C$268,973.75. This trade represents a ∞ increase in their ownership of the stock. Insiders purchased 4,262 shares of company stock worth $338,105 over the last 90 days. 0.03% of the stock is currently owned by insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.