Sun Life Financial (TSE:SLF) Given New C$97.00 Price Target at CIBC

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price target increased by CIBC from C$96.00 to C$97.00 in a report released on Thursday,BayStreet.CA reports. CIBC’s price target would indicate a potential upside of 15.28% from the stock’s current price.

A number of other research analysts have also recently weighed in on SLF. National Bank Financial upgraded shares of Sun Life Financial from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, January 14th. National Bankshares upgraded Sun Life Financial from a “sector perform” rating to an “outperform” rating and boosted their price objective for the company from C$82.00 to C$95.00 in a research report on Wednesday, January 15th. Royal Bank of Canada increased their target price on Sun Life Financial from C$78.00 to C$82.00 in a research report on Wednesday, November 6th. Barclays boosted their price target on Sun Life Financial from C$82.00 to C$87.00 in a report on Monday, January 6th. Finally, Scotiabank lifted their price objective on shares of Sun Life Financial from C$85.00 to C$96.00 in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$86.73.

Sun Life Financial Stock Performance

Sun Life Financial stock traded down C$0.36 during trading on Thursday, reaching C$84.14. The company had a trading volume of 193,406 shares, compared to its average volume of 998,725. The firm’s 50-day simple moving average is C$85.20 and its 200 day simple moving average is C$78.37. Sun Life Financial has a 52 week low of C$64.38 and a 52 week high of C$88.54. The company has a current ratio of 65.29, a quick ratio of 84,866.00 and a debt-to-equity ratio of 53.77. The firm has a market capitalization of C$48.51 billion, a price-to-earnings ratio of 15.94, a price-to-earnings-growth ratio of 1.33 and a beta of 0.94.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last released its earnings results on Monday, November 4th. The financial services provider reported C$1.76 earnings per share (EPS) for the quarter, topping the consensus estimate of C$1.71 by C$0.05. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. During the same period last year, the business posted $1.59 earnings per share. Sell-side analysts forecast that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Insider Activity

In other Sun Life Financial news, Senior Officer Linda Dougherty purchased 5,800 shares of Sun Life Financial stock in a transaction dated Friday, November 15th. The shares were purchased at an average cost of C$84.83 per share, for a total transaction of C$492,014.00. Also, Director Kevin Strain sold 85,943 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of C$84.71, for a total value of C$7,280,231.53. Corporate 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.