Sun Life Financial Inc. (NYSE:SLF) Stock Has Average Target Price of $103.50

Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) has been given an average recommendation of “Hold” by the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $103.50.

A number of research analysts have recently issued reports on SLF shares. Royal Bank Of Canada boosted their price objective on Sun Life Financial from $98.00 to $119.00 and gave the company a “sector perform” rating in a research note on Monday, August 10th. Wall Street Zen raised Sun Life Financial from a “sell” rating to a “hold” rating in a research note on Sunday, July 26th. TD Securities cut Sun Life Financial from a “strong-buy” rating to a “hold” rating in a research note on Thursday, November 5th. Scotiabank upgraded Sun Life Financial from a “sector perform” rating to a “sector outperform” rating in a report on Tuesday, October 27th. Finally, National Bank Financial lowered Sun Life Financial from an “outperform” rating to a “sector perform” rating in a research note on Thursday, November 5th.

Institutional Trading of Sun Life Financial

Several large investors have recently modified their holdings of SLF. Bank of Nova Scotia bought a new position in Sun Life Financial during the second quarter worth $544,052,000. The Manufacturers Life Insurance Company bought a new stake in Sun Life Financial in the second quarter valued at $293,050,000. Canada Pension Plan Investment Board bought a new stake in Sun Life Financial in the second quarter valued at $292,980,000. Legal & General Group Plc bought a new stake in Sun Life Financial in the second quarter valued at $280,312,000. Finally, Wellington Management Group LLP acquired a new position in shares of Sun Life Financial during the second quarter valued at about $220,567,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Sun Life Financial Stock Up 0.3%

SLF stock opened at $73.80 on Friday. The firm has a market cap of $40.99 billion, a price-to-earnings ratio of 19.18, a PEG ratio of 1.92 and a beta of 0.86. Sun Life Financial has a 12-month low of $57.22 and a 12-month high of $84.38. The company’s fifty day simple moving average is $78.89 and its 200 day simple moving average is $73.84.

Sun Life Financial (NYSE:SLF) (TSE:SLF) last issued its quarterly earnings results on Wednesday, November 4th. The financial services provider reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.02. Sun Life Financial had a net margin of 8.62% and a return on equity of 18.21%. The business had revenue of $986.89 million for the quarter, compared to analysts’ expectations of $986.89 million. Research analysts expect that Sun Life Financial will post 5.46 earnings per share for the current year.

Sun Life Financial Company Profile

Sun Life Financial Inc. is a Canadian financial services company that provides insurance, wealth management and asset management services. Founded in 1865 as Sun Life Assurance Company of Canada, it has grown into an international business serving individual, workplace and institutional clients. The company offers life, health and dental insurance, disability coverage and group benefits, as well as savings, retirement and investment products. Its asset management businesses provide investment management services to individuals and institutions.