Desjardins Issues Positive Forecast for Sun Life Financial (TSE:SLF) Stock Price

Sun Life Financial (TSE:SLF) (NYSE:SLF) had its target price lifted by investment analysts at Desjardins from C$120.00 to C$122.00 in a report issued on Monday,BayStreet.CA reports. The firm presently has a “buy” rating on the financial services provider’s stock. Desjardins’ target price indicates a potential upside of 5.99% from the company’s current price.

Other analysts have also recently issued reports about the company. Barclays lifted their price objective on Sun Life Financial from C$96.00 to C$98.00 in a research report on Friday. Canadian Imperial Bank of Commerce increased their target price on Sun Life Financial from C$102.00 to C$116.00 in a research report on Wednesday, July 15th. BMO Capital Markets raised their target price on Sun Life Financial from C$99.00 to C$105.00 in a research note on Friday, May 8th. Jefferies Financial Group lifted their price target on Sun Life Financial from C$131.00 to C$141.00 in a research report on Monday. Finally, Scotiabank upped their price target on Sun Life Financial from C$98.00 to C$111.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sun Life Financial presently has an average rating of “Moderate Buy” and a consensus price target of C$116.00.

Sun Life Financial Trading Up 0.7%

TSE SLF traded up C$0.85 during trading on Monday, hitting C$115.10. The company had a trading volume of 373,036 shares, compared to its average volume of 1,919,911. The company’s fifty day moving average is C$110.98 and its 200-day moving average is C$98.37. Sun Life Financial has a one year low of C$78.06 and a one year high of C$118.99. The company has a current ratio of 6.03, a quick ratio of 84,866.00 and a debt-to-equity ratio of 32.51. The company has a market cap of C$63.74 billion, a price-to-earnings ratio of 19.51, a price-to-earnings-growth ratio of 1.33 and a beta of 0.80.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its earnings results on Thursday, August 6th. The financial services provider reported C$2.02 earnings per share for the quarter. Sun Life Financial had a net margin of 9.12% and a return on equity of 12.89%. The firm had revenue of C$9.05 billion for the quarter. On average, sell-side analysts predict that Sun Life Financial will post 6.9230769 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Melissa Jane Kennedy sold 7,366 shares of the company’s stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$101.49, for a total value of C$747,575.34. Following the transaction, the insider owned 13,916 shares in the company, valued at C$1,412,334.84. The trade was a 34.61% decrease in their position. Also, insider Linda Dougherty sold 3,500 shares of the stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$101.40, for a total transaction of C$354,900.00. In the last ninety days, insiders sold 366,323 shares of company stock valued at $36,848,394. Company insiders own 0.03% of the company’s stock.

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.