Sun Life Financial (NYSE:SLF) Price Target Lowered to C$67.00 at Canaccord Genuity Group

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) had its target price cut by analysts at Canaccord Genuity Group from C$75.50 to C$67.00 in a research note issued on Sunday, The Fly reports.

SLF has been the subject of several other research reports. Scotiabank cut their price target on Sun Life Financial from C$71.00 to C$67.00 in a report on Friday. BMO Capital Markets cut their price target on Sun Life Financial from C$80.00 to C$75.00 in a report on Friday. StockNews.com started coverage on Sun Life Financial in a report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research reissued a “hold” rating on shares of Sun Life Financial in a report on Thursday, March 17th. Finally, National Bank Financial cut their price target on Sun Life Financial from C$76.00 to C$72.00 in a report on Thursday. One analyst has rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Sun Life Financial currently has a consensus rating of “Hold” and a consensus price target of $71.14.

Shares of SLF opened at $47.62 on Friday. Sun Life Financial has a one year low of $46.23 and a one year high of $58.49. The firm has a market capitalization of $27.91 billion, a P/E ratio of 9.11, a PEG ratio of 1.06 and a beta of 1.06. The business has a fifty day moving average of $53.22 and a 200 day moving average of $54.52.

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) last issued its quarterly earnings data on Wednesday, February 9th. The financial services provider reported $1.21 EPS for the quarter, missing the consensus estimate of $1.22 by ($0.01). Sun Life Financial had a return on equity of 13.81% and a net margin of 11.38%. The firm had revenue of $10.31 billion during the quarter. During the same period in the prior year, the firm earned $1.13 earnings per share. On average, research analysts anticipate that Sun Life Financial will post 4.83 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of SLF. Norges Bank purchased a new stake in shares of Sun Life Financial in the fourth quarter worth about $297,493,000. FIL Ltd raised its position in Sun Life Financial by 12.2% during the third quarter. FIL Ltd now owns 16,472,720 shares of the financial services provider’s stock valued at $847,955,000 after purchasing an additional 1,797,072 shares during the period. National Bank of Canada FI purchased a new stake in Sun Life Financial during the fourth quarter valued at approximately $84,720,000. Mackenzie Financial Corp raised its position in Sun Life Financial by 8.6% during the first quarter. Mackenzie Financial Corp now owns 16,723,833 shares of the financial services provider’s stock valued at $935,206,000 after purchasing an additional 1,321,860 shares during the period. Finally, Bank of Nova Scotia raised its position in Sun Life Financial by 12.7% during the first quarter. Bank of Nova Scotia now owns 10,455,904 shares of the financial services provider’s stock valued at $583,786,000 after purchasing an additional 1,176,183 shares during the period. Institutional investors own 47.14% of the company’s stock.

About Sun Life Financial (Get Rating)

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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