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

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its price objective hoisted by investment analysts at Barclays from C$79.00 to C$82.00 in a note issued to investors on Thursday,BayStreet.CA reports. Barclays‘s target price would indicate a potential downside of 4.41% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Royal Bank of Canada boosted their price objective on Sun Life Financial from C$78.00 to C$82.00 in a report on Wednesday, November 6th. National Bankshares upped their price objective on Sun Life Financial from C$72.00 to C$73.00 and gave the company a “sector perform” rating in a report on Tuesday, August 13th. Scotiabank boosted their target price on shares of Sun Life Financial from C$85.00 to C$96.00 in a research report on Thursday. Cormark raised their price target on shares of Sun Life Financial from C$82.00 to C$85.00 in a research report on Tuesday, November 5th. Finally, CIBC boosted their price objective on shares of Sun Life Financial from C$90.00 to C$96.00 in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$84.18.

Sun Life Financial Stock Performance

Shares of SLF traded up C$1.35 during mid-day trading on Thursday, reaching C$85.78. The company’s stock had a trading volume of 784,585 shares, compared to its average volume of 2,011,866. 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 stock has a market cap of C$49.45 billion, a P/E ratio of 16.25, a PEG ratio of 1.33 and a beta of 0.94. Sun Life Financial has a 1-year low of C$64.38 and a 1-year high of C$86.39. The business has a 50-day simple moving average of C$78.09 and a two-hundred day simple moving average of C$72.11.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last issued its quarterly earnings data on Monday, August 12th. The financial services provider reported C$1.71 earnings per share for the quarter, beating the consensus estimate of C$1.58 by C$0.13. The company had revenue of C$8.92 billion for the quarter, compared to analyst estimates of C$9.18 billion. Sun Life Financial had a net margin of 9.90% and a return on equity of 13.65%. As a group, equities research analysts anticipate that Sun Life Financial will post 6.9230769 earnings per share for the current fiscal year.

Insider Activity at Sun Life Financial

In other Sun Life Financial news, Senior Officer Daniel Fishbein sold 15,999 shares of Sun Life Financial stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. In related news, Senior Officer Linda Dougherty sold 2,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of C$75.30, for a total transaction of C$150,590.00. Also, Senior Officer Daniel Fishbein sold 15,999 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of C$71.40, for a total transaction of C$1,142,323.80. 0.03% of the stock is owned by corporate insiders.

About Sun Life Financial

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.