Sun Life Financial (TSE:SLF) Price Target Raised to C$90.00 at CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price upped by CIBC from C$80.00 to C$90.00 in a note issued to investors on Wednesday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. CIBC’s target price points to a potential upside of 14.29% from the company’s previous close.

Other equities research analysts also recently issued reports about the stock. Scotiabank increased their price target on shares of Sun Life Financial from C$73.00 to C$85.00 and gave the stock an “outperform” rating in a report on Wednesday. National Bankshares raised their price target on shares of Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 13th. Barclays set a C$76.00 price objective on Sun Life Financial and gave the stock an “equal weight” rating in a research report on Thursday, September 5th. Evercore reduced their target price on Sun Life Financial from C$76.00 to C$75.00 in a research report on Thursday, July 11th. Finally, TD Securities lowered their price target on Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating on the stock in a report on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$78.82.

Sun Life Financial Stock Performance

SLF stock traded down C$0.34 during mid-day trading on Wednesday, hitting C$78.75. The company had a trading volume of 442,090 shares, compared to its average volume of 2,015,737. Sun Life Financial has a 12 month low of C$62.75 and a 12 month high of C$79.45. The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29. The stock’s fifty day moving average price is C$76.31 and its two-hundred day moving average price is C$71.30. The firm has a market cap of C$45.40 billion, a PE ratio of 14.91, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 earnings per share for the quarter, beating analysts’ consensus estimates of C$1.58 by C$0.13. The business had revenue of C$8.92 billion during the quarter, compared to analyst estimates of C$9.18 billion. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. On average, analysts forecast that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Insider Transactions at Sun Life Financial

In other Sun Life Financial news, Director Stephanie Coyles bought 500 shares of Sun Life Financial stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of C$70.00 per share, with a total value of C$35,000.00. Following the acquisition, the director now owns 500 shares in the company, valued at approximately C$35,000. In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of C$71.40, for a total value of C$1,142,323.80. Also, Director Stephanie Coyles bought 500 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of C$70.00 per share, for a total transaction of C$35,000.00. Following the acquisition, the director now directly owns 500 shares of the company’s stock, valued at approximately C$35,000. Company insiders own 0.03% of the company’s stock.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.