TD Increases Sun Life Financial (TSE:SLF) Price Target to C$121.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective raised by investment analysts at TD from C$107.00 to C$121.00 in a note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has a “buy” rating on the financial services provider’s stock. TD’s price target points to a potential upside of 6.13% from the company’s previous close.

Several other analysts have also recently issued reports on SLF. Scotiabank upped their price objective on shares of Sun Life Financial from C$98.00 to C$111.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 15th. Desjardins set a C$101.00 target price on Sun Life Financial and gave the stock a “buy” rating in a report on Friday, April 17th. BMO Capital Markets upped their price target on Sun Life Financial from C$99.00 to C$105.00 in a research report on Friday, May 8th. Canadian Imperial Bank of Commerce increased their price target on Sun Life Financial from C$102.00 to C$116.00 in a report on Wednesday, July 15th. Finally, Evercore downgraded Sun Life Financial from an “outperform” rating to a “hold” rating and set a C$111.00 price objective on the stock. in a research report on Monday, July 13th. One investment 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of C$107.82.

Sun Life Financial Price Performance

SLF traded up C$0.51 on Tuesday, hitting C$114.01. 444,064 shares of the company’s stock were exchanged, compared to its average volume of 1,920,275. Sun Life Financial has a fifty-two week low of C$77.38 and a fifty-two week high of C$115.45. The stock has a market cap of C$63.20 billion, a price-to-earnings ratio of 21.23, a P/E/G ratio of 1.33 and a beta of 0.79. The firm has a 50-day moving average price of C$106.42 and a 200-day moving average price of C$95.51. The company has a current ratio of 6.03, a quick ratio of 84,866.00 and a debt-to-equity ratio of 32.51.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 EPS for the quarter. The business had revenue of C$8.73 billion during the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.89%. As a group, equities analysts anticipate that Sun Life Financial will post 6.9230769 earnings per share for the current year.

Insider Activity

In related news, insider Jacques Jr. Goulet sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The stock was sold at an average price of C$97.80, for a total value of C$3,423,000.00. Following the transaction, the insider directly owned 1,054 shares in the company, valued at approximately C$103,081.20. This represents a 97.08% decrease in their ownership of the stock. Also, insider Linda Dougherty sold 3,500 shares of the company’s stock in a transaction that occurred on Monday, May 25th. The shares were sold at an average price of C$101.40, for a total value of C$354,900.00. In the last quarter, insiders have sold 380,998 shares of company stock worth $38,271,605. 0.03% of the stock is owned by company insiders.

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.