Scotiabank Increases Sun Life Financial (TSE:SLF) Price Target to C$85.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective boosted by analysts at Scotiabank from C$73.00 to C$85.00 in a research note issued on Wednesday, BayStreet.CA reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Scotiabank’s price objective indicates a potential upside of 10.10% from the company’s current price.

SLF has been the subject of a number of other research reports. Royal Bank of Canada lifted their price objective on shares of Sun Life Financial from C$76.00 to C$78.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. TD Securities reduced their target price on shares of Sun Life Financial from C$73.00 to C$72.00 and set a “hold” rating for the company in a research note on Tuesday, August 13th. Jefferies Financial Group boosted their price objective on shares of Sun Life Financial from C$81.00 to C$89.00 and gave the stock a “buy” rating in a report on Wednesday, October 16th. Barclays set a C$76.00 price target on shares of Sun Life Financial and gave the company an “equal weight” rating in a research report on Thursday, September 5th. Finally, Evercore lowered their target price on shares of Sun Life Financial from C$76.00 to C$75.00 in a research note on Thursday, July 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of C$78.82.

Sun Life Financial Price Performance

SLF stock opened at C$77.20 on Wednesday. The company has a debt-to-equity ratio of 53.77, a current ratio of 65.29 and a quick ratio of 84,866.00. The business has a 50 day simple moving average of C$76.56 and a 200-day simple moving average of C$71.40. The firm has a market capitalization of C$44.51 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. Sun Life Financial has a 1 year low of C$62.75 and a 1 year high of C$79.45.

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

Insider Buying and Selling

In other news, Director Stephanie Coyles purchased 500 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of C$70.00 per share, for a total transaction of C$35,000.00. Following the completion of the purchase, the director now directly owns 500 shares of the company’s stock, valued at approximately C$35,000. In other Sun Life Financial news, Director Stephanie Coyles purchased 500 shares of the business’s stock in a transaction on 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 completion of the purchase, the director now directly owns 500 shares in the company, valued at approximately C$35,000. Also, Senior Officer Linda Dougherty sold 2,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of C$75.30, for a total value of C$150,590.00. 0.03% of the stock is currently owned by insiders.

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.