Jefferies Financial Group Forecasts Strong Price Appreciation for Sun Life Financial (TSE:SLF) Stock

by · The Markets Daily

Sun Life Financial (TSE:SLF – Get Free Report) (NYSE:SLF) had its price target raised by investment analysts at Jefferies Financial Group from C$115.00 to C$131.00 in a report released on Tuesday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 14.90% from the company’s current price.

SLF has been the topic of several other reports. National Bank Financial cut their price objective 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 report on Thursday, May 7th. Desjardins set a C$101.00 target price on shares of Sun Life Financial and gave the stock a “buy” rating in a research note on Friday, April 17th. Canadian Imperial Bank of Commerce raised their price target on shares of Sun Life Financial from C$102.00 to C$116.00 in a research report on Wednesday, July 15th. TD lifted their target price on Sun Life Financial from C$107.00 to C$121.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Scotiabank upped their price target on Sun Life Financial from C$98.00 to C$111.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of C$107.82.

Check Out Our Latest Stock Report on SLF

Sun Life Financial Stock Up 0.4%

Shares of SLF stock traded up C$0.51 during trading hours on Tuesday, hitting C$114.01. 444,064 shares of the company’s stock traded hands, compared to its average volume of 1,920,275. Sun Life Financial has a 12-month low of C$77.38 and a 12-month high of C$115.45. The company has a quick ratio of 84,866.00, a current ratio of 6.03 and a debt-to-equity ratio of 32.51. The stock has a market cap of C$63.20 billion, a price-to-earnings ratio of 21.23, a PEG ratio of 1.33 and a beta of 0.79. The stock’s fifty day simple moving average is C$106.42 and its two-hundred day simple moving average is C$95.51.

Sun Life Financial (TSE:SLF – Get Free Report) (NYSE:SLF) last released its earnings results 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 expect that Sun Life Financial will post 6.9230769 EPS for the current year.

Insider Buying and Selling at Sun Life Financial

In related news, insider Manjit Singh sold 188,312 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of C$103.20, for a total value of C$19,433,798.40. Following the transaction, the insider directly owned 547 shares of the company’s stock, valued at approximately C$56,450.40. This trade represents a 99.71% decrease in their position. Also, insider Helena Janina Pagano sold 17,283 shares of the business’s stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$101.32, for a total value of C$1,751,113.56. Following the sale, the insider directly owned 228 shares of the company’s stock, valued at C$23,100.96. This represents a 98.70% decrease in their position. Insiders sold 380,998 shares of company stock valued at $38,271,605 in the last quarter. Insiders own 0.03% of the company’s stock.

About Sun Life Financial

(Get Free Report)

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.

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