Sun Life Financial (TSE:SLF) Upgraded at TD Securities

Key Points

• Sun Life Financial was upgraded from a "hold" to a "buy" rating by TD Securities, with a new price target set at C$101.00, suggesting a potential upside of 17.25%.
• While TD Securities increased their target, other analysts have varied opinions, with Royal Bank of Canada lowering their target from C$88.00 to C$84.00.
• Insider Thomas Murphy purchased 3,389 shares of the company at C$79.37 per share, indicating strong confidence in the stock from internal stakeholders.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF was upgraded by equities researchers at TD Securities from a "hold" rating to a "buy" rating in a research note issued on Wednesday,BayStreet.CA reports. The brokerage presently has a C$101.00 price target on the financial services provider's stock, up from their prior price target of C$89.00. TD Securities' price target suggests a potential upside of 17.25% from the company's current price.

Several other research analysts have also weighed in on SLF. Royal Bank Of Canada dropped their price objective on shares of Sun Life Financial from C$88.00 to C$84.00 in a research note on Monday, August 11th. Scotiabank dropped their price objective on shares of Sun Life Financial from C$88.00 to C$83.00 and set a "sector perform" rating on the stock in a research note on Monday, August 11th. Argus upgraded shares of Sun Life Financial to a "strong-buy" rating in a research note on Thursday, September 4th. National Bank Financial lowered shares of Sun Life Financial from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 7th. Finally, Barclays lowered shares of Sun Life Financial from a "hold" rating to a "strong sell" rating in a research note on Monday, July 7th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of C$88.11.

Sun Life Financial Stock Up 1.5%

Sun Life Financial stock traded up C$1.27 during trading hours on Wednesday, hitting C$86.14. The company had a trading volume of 755,942 shares, compared to its average volume of 2,065,218. The firm has a market capitalization of C$48.28 billion, a P/E ratio of 15.27, a price-to-earnings-growth ratio of 1.33 and a beta of 0.84. The company has a debt-to-equity ratio of 26.00, a current ratio of 92.19 and a quick ratio of 84,866.00. The firm's fifty day moving average is C$81.79 and its 200-day moving average is C$83.70. Sun Life Financial has a fifty-two week low of C$74.56 and a fifty-two week high of C$91.11.

Insiders Place Their Bets

In related news, insider Thomas Murphy purchased 3,389 shares of Sun Life Financial stock in a transaction on Wednesday, August 13th. The stock was purchased at an average cost of C$79.37 per share, with a total value of C$268,973.75. Following the acquisition, 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. Over the last ninety days, insiders have acquired 4,262 shares of company stock valued at $338,105. 0.03% of the stock is owned by corporate 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.

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