CIBC Boosts Sun Life Financial (TSE:SLF) Price Target to C$97.00

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target hoisted by analysts at CIBC from C$96.00 to C$97.00 in a note issued to investors on Thursday,BayStreet.CA reports. CIBC’s price objective suggests a potential upside of 15.28% from the stock’s previous close.

A number of other brokerages have also issued reports on SLF. Jefferies Financial Group upped their price target on shares of Sun Life Financial from C$90.00 to C$94.00 in a research note on Thursday, November 14th. Royal Bank of Canada upped their target price on Sun Life Financial from C$78.00 to C$82.00 in a research report on Wednesday, November 6th. Cormark raised their target price on Sun Life Financial from C$82.00 to C$85.00 in a research note on Tuesday, November 5th. National Bank Financial upgraded Sun Life Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. Finally, TD Securities raised their price objective on Sun Life Financial from C$81.00 to C$87.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sun Life Financial presently has a consensus rating of “Moderate Buy” and a consensus price target of C$86.73.

Sun Life Financial Stock Down 0.4 %

SLF stock traded down C$0.36 on Thursday, hitting C$84.14. 193,406 shares of the company’s stock were exchanged, compared to its average volume of 998,725. The firm has a 50 day moving average price of C$85.20 and a two-hundred day moving average price of C$78.37. Sun Life Financial has a 12-month low of C$64.38 and a 12-month high of C$88.54. The stock has a market cap of C$48.51 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94. The company has a debt-to-equity ratio of 53.77, a quick ratio of 84,866.00 and a current ratio of 65.29.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings results on Monday, November 4th. The financial services provider reported C$1.76 earnings per share for the quarter, topping the consensus estimate of C$1.71 by C$0.05. Sun Life Financial had a return on equity of 13.65% and a net margin of 9.90%. During the same period in the prior year, the firm earned $1.59 earnings per share. As a group, equities research analysts expect that Sun Life Financial will post 6.9230769 EPS for the current fiscal year.

Insider Activity

In other news, Senior Officer Linda Dougherty acquired 5,800 shares of the business’s stock in a transaction on Friday, November 15th. The stock was bought at an average price of C$84.83 per share, with a total value of C$492,014.00. Also, Director Kevin Strain sold 85,943 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of C$84.71, for a total transaction of C$7,280,231.53. Insiders own 0.03% of the company’s stock.

Sun Life Financial Company Profile

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.