Canadian Imperial Bank of Commerce Forecasts Strong Price Appreciation for Sun Life Financial (TSE:SLF) Stock

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price boosted by analysts at Canadian Imperial Bank of Commerce from C$102.00 to C$116.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. Canadian Imperial Bank of Commerce’s price target suggests a potential upside of 1.15% from the stock’s current price.

Other equities analysts have also issued reports about the stock. BMO Capital Markets increased their price target on shares of Sun Life Financial from C$99.00 to C$105.00 in a research note on Friday, May 8th. TD lifted their price target on shares of Sun Life Financial from C$102.00 to C$107.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. National Bank Financial cut their price target on shares of Sun Life Financial from C$109.00 to C$108.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. Barclays boosted their price target on shares of Sun Life Financial from C$84.00 to C$85.00 in a research report on Wednesday, April 8th. Finally, Jefferies Financial Group lifted their target price on Sun Life Financial from C$103.00 to C$115.00 in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of C$105.09.

Sun Life Financial Stock Up 0.4%

Shares of TSE SLF opened at C$114.68 on Wednesday. The company has a market capitalization of C$63.57 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 1.33 and a beta of 0.79. The company has a debt-to-equity ratio of 32.51, a current ratio of 6.03 and a quick ratio of 84,866.00. The business has a 50-day moving average of C$105.69 and a two-hundred day moving average of C$95.11. Sun Life Financial has a 1 year low of C$77.38 and a 1 year high of C$115.13.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its quarterly earnings data on Wednesday, May 6th. The financial services provider reported C$1.89 EPS for the quarter. Sun Life Financial had a return on equity of 12.89% and a net margin of 9.12%.The business had revenue of C$8.73 billion for the quarter. On average, analysts forecast that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Insider Transactions at Sun Life Financial

In other Sun Life Financial news, insider Manjit Singh sold 188,312 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of C$103.20, for a total value of C$19,433,798.40. Following the sale, the insider owned 547 shares of the company’s stock, valued at C$56,450.40. This represents a 99.71% decrease in their ownership of the stock. Also, insider Linda Dougherty sold 3,500 shares of the stock in a transaction 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. Over the last three months, insiders have sold 380,998 shares of company stock valued at $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.