Barclays Forecasts Strong Price Appreciation for Sun Life Financial (TSE:SLF) Stock

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price lifted by equities research analysts at Barclays from C$82.00 to C$87.00 in a report released on Monday,BayStreet.CA reports. Barclays‘s price objective indicates a potential upside of 2.17% from the stock’s current price.

Several other research analysts also recently issued reports on SLF. Jefferies Financial Group upped their price objective on Sun Life Financial from C$90.00 to C$94.00 in a research note on Thursday, November 14th. Scotiabank lifted their price target on shares of Sun Life Financial from C$85.00 to C$96.00 in a report on Thursday, November 14th. Cormark increased their price objective on Sun Life Financial from C$82.00 to C$85.00 in a report on Tuesday, November 5th. Royal Bank of Canada raised their target price on Sun Life Financial from C$78.00 to C$82.00 in a research report on Wednesday, November 6th. Finally, CIBC upped their price target on Sun Life Financial from C$90.00 to C$96.00 in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of C$84.64.

Sun Life Financial Price Performance

Shares of TSE:SLF traded down C$0.39 during trading on Monday, hitting C$85.15. 279,367 shares of the company were exchanged, compared to its average volume of 653,619. Sun Life Financial has a 1-year low of C$64.38 and a 1-year high of C$88.54. The company has a market capitalization of C$49.09 billion, a P/E ratio of 16.13, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The company has a quick ratio of 84,866.00, a current ratio of 65.29 and a debt-to-equity ratio of 53.77. The business’s 50 day moving average is C$84.22 and its 200-day moving average is C$76.31.

Insider Buying and Selling at Sun Life Financial

In other Sun Life Financial news, Senior Officer Linda Dougherty bought 5,800 shares of the stock in a transaction dated Friday, November 15th. The shares were bought at an average cost of C$84.83 per share, for a total transaction of C$492,014.00. Also, Director Kevin Strain sold 85,943 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of C$84.71, for a total transaction of C$7,280,231.53. 0.03% of the stock is currently owned by company 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.