TD Issues Positive Forecast for Sun Life Financial (TSE:SLF) Stock Price

Key Points

• TD raised its price target for Sun Life Financial from C$107 to C$121 and kept a buy rating, implying about 6.1% upside from the current price.
• Other analysts are broadly constructive on the stock: the consensus rating is Moderate Buy with an average target price of C$107.82, though Evercore recently cut its view to hold.
• Sun Life shares rose to C$114.01, near their 52-week high, while the company reported C$1.89 EPS in its latest quarter and analysts expect 6.92 EPS for the current fiscal year.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF had its price objective increased by investment analysts at TD from C$107.00 to C$121.00 in a report released on Tuesday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the financial services provider's stock. TD's price target suggests a potential upside of 6.13% from the stock's current price.

Several other equities analysts have also weighed in on the stock. Desjardins set a C$101.00 target price on shares of Sun Life Financial and gave the company a "buy" rating in a report on Friday, April 17th. Jefferies Financial Group raised their price target on shares of Sun Life Financial from C$103.00 to C$115.00 in a research report on Friday, May 1st. BMO Capital Markets lifted their price objective on shares of Sun Life Financial from C$99.00 to C$105.00 in a report on Friday, May 8th. Canadian Imperial Bank of Commerce upped their price objective on shares of Sun Life Financial from C$102.00 to C$116.00 in a research report on Wednesday, July 15th. Finally, Evercore lowered shares of Sun Life Financial from an "outperform" rating to a "hold" rating and set a C$111.00 target price on the stock. in a research note on Monday, July 13th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of C$107.82.

Sun Life Financial Stock Performance

SLF stock traded up C$0.51 during trading on Tuesday, hitting C$114.01. 444,064 shares of the company traded hands, compared to its average volume of 1,920,275. The stock's 50-day simple moving average is C$106.42 and its 200 day simple moving average is C$95.51. The company has a debt-to-equity ratio of 32.51, a current ratio of 6.03 and a quick ratio of 84,866.00. The company has a market cap of C$63.20 billion, a PE ratio of 21.23, a P/E/G ratio of 1.33 and a beta of 0.79. Sun Life Financial has a 1 year low of C$77.38 and a 1 year high of C$115.45.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 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$8.73 billion during the quarter. On average, equities analysts expect that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Insider Activity at Sun Life Financial

In other Sun Life Financial news, insider Helena Janina Pagano sold 17,283 shares of the company's stock in a transaction on Monday, May 25th. The shares were 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 in the company, valued at approximately C$23,100.96. This represents a 98.70% decrease in their ownership of the stock. Also, Director Kevin Strain sold 104,744 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of C$96.99, for a total transaction of C$10,159,120.56. Following the transaction, the director directly owned 42,000 shares in the company, valued at approximately C$4,073,580. The trade was a 71.38% decrease in their ownership of the stock. Insiders sold a total of 380,998 shares of company stock valued at $38,271,605 in the last three months. Company insiders own 0.03% of the company's stock.

About Sun Life Financial

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.