TD Securities Cuts Sun Life Financial (NYSE:SLF) Price Target to C$68.00

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) had its price objective decreased by equities research analysts at TD Securities from C$72.00 to C$68.00 in a research note issued on Wednesday, The Fly reports.

Other equities analysts have also recently issued research reports about the company. StockNews.com initiated coverage on Sun Life Financial in a report on Thursday, March 31st. They issued a “hold” rating for the company. National Bank Financial reduced their price target on Sun Life Financial from C$76.00 to C$72.00 in a report on Thursday, May 12th. Desjardins reduced their target price on Sun Life Financial from C$77.00 to C$73.00 in a report on Monday, May 16th. BMO Capital Markets reduced their target price on Sun Life Financial from C$80.00 to C$75.00 in a report on Friday, May 13th. Finally, Scotiabank reduced their target price on Sun Life Financial from C$71.00 to C$67.00 in a report on Friday, May 13th. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $70.38.

Shares of SLF traded up $0.60 during mid-day trading on Wednesday, reaching $49.41. The company had a trading volume of 38,530 shares, compared to its average volume of 888,015. Sun Life Financial has a 52-week low of $46.23 and a 52-week high of $58.49. The stock has a market capitalization of $28.96 billion, a P/E ratio of 9.45, a PEG ratio of 1.15 and a beta of 1.06. The stock has a 50 day moving average of $51.93 and a two-hundred day moving average of $53.82.

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) last issued its earnings results on Wednesday, May 11th. The financial services provider reported $1.14 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.03. The firm had revenue of $300.00 million for the quarter. Sun Life Financial had a return on equity of 13.66% and a net margin of 11.38%. Analysts anticipate that Sun Life Financial will post 4.83 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. Yousif Capital Management LLC purchased a new position in Sun Life Financial in the fourth quarter worth approximately $505,000. Janney Montgomery Scott LLC grew its position in Sun Life Financial by 11.7% in the fourth quarter. Janney Montgomery Scott LLC now owns 17,364 shares of the financial services provider’s stock worth $967,000 after acquiring an additional 1,822 shares during the period. Sandy Cove Advisors LLC purchased a new position in Sun Life Financial in the fourth quarter worth approximately $116,000. CLARET ASSET MANAGEMENT Corp boosted its position in shares of Sun Life Financial by 4.7% during the third quarter. CLARET ASSET MANAGEMENT Corp now owns 11,417 shares of the financial services provider’s stock worth $587,000 after buying an additional 510 shares during the period. Finally, Pictet Asset Management SA boosted its position in shares of Sun Life Financial by 94.5% during the fourth quarter. Pictet Asset Management SA now owns 439,928 shares of the financial services provider’s stock worth $24,522,000 after buying an additional 213,717 shares during the period. Institutional investors own 47.14% of the company’s stock.

Sun Life Financial Company Profile (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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