Sun Life Financial (TSE:SLF) Stock Rating Lowered by CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) was downgraded by investment analysts at CIBC from an “outperform” rating to a “neutral” rating in a report released on Thursday,BayStreet.CA reports. They currently have a C$94.00 price target on the financial services provider’s stock, up from their prior price target of C$88.00. CIBC’s target price would indicate a potential upside of 10.19% from the stock’s current price.

A number of other analysts also recently commented on SLF. National Bankshares raised their price objective on Sun Life Financial from C$87.00 to C$94.00 and gave the stock a “sector perform” rating in a research report on Monday, October 20th. Scotiabank dropped their target price on Sun Life Financial from C$88.00 to C$83.00 and set a “sector perform” rating for the company in a report on Monday, August 11th. National Bank Financial cut Sun Life Financial from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 7th. UBS Group raised Sun Life Financial to a “hold” rating in a report on Thursday, October 16th. Finally, Desjardins increased their target price on Sun Life Financial from C$90.00 to C$94.00 and gave the stock a “buy” rating in a report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of C$89.89.

Sun Life Financial Price Performance

Shares of SLF stock opened at C$85.31 on Thursday. The stock has a 50 day moving average of C$83.38 and a two-hundred day moving average of C$84.49. The company has a current ratio of 92.19, a quick ratio of 84,866.00 and a debt-to-equity ratio of 26.00. Sun Life Financial has a 12 month low of C$74.56 and a 12 month high of C$91.11. The company has a market capitalization of C$47.81 billion, a P/E ratio of 15.13, a P/E/G ratio of 1.33 and a beta of 0.84.

Insiders Place Their Bets

In other Sun Life Financial news, insider Thomas Murphy purchased 3,389 shares of the company’s stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average cost of C$79.37 per share, with a total value of C$268,973.75. Following the acquisition, the insider directly owned 3,389 shares of the company’s stock, valued at approximately C$268,973.75. This trade represents a ∞ increase in their position. Over the last ninety days, insiders acquired 4,262 shares of company stock worth $338,105. Company insiders own 0.03% of the company’s stock.

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.