Sun Life Financial (TSE:SLF) Cut to “In Line” at Evercore

Sun Life Financial (TSE:SLF) (NYSE:SLF) was downgraded by equities researchers at Evercore from an “outperform” rating to an “in line” rating in a note issued to investors on Monday,BayStreet.CA reports. They currently have a C$111.00 price target on the financial services provider’s stock. Evercore’s price objective points to a potential upside of 0.10% from the company’s current price.

A number of other research analysts have also weighed in on the stock. TD raised their target price on shares of Sun Life Financial from C$102.00 to C$107.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Canadian Imperial Bank of Commerce upped their price target on shares of Sun Life Financial from C$95.00 to C$102.00 in a research note on Friday, May 8th. BMO Capital Markets increased their price objective on shares of Sun Life Financial from C$99.00 to C$105.00 in a research report on Friday, May 8th. National Bank Financial dropped their price objective on shares of Sun Life Financial from C$109.00 to C$108.00 and set an “outperform” rating for the company in a research note on Thursday, May 7th. Finally, Jefferies Financial Group boosted their target price on shares of Sun Life Financial from C$103.00 to C$115.00 in a report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Sun Life Financial currently has an average rating of “Moderate Buy” and an average target price of C$102.45.

Sun Life Financial Price Performance

Shares of SLF stock traded down C$2.29 during trading hours on Monday, hitting C$110.89. The stock had a trading volume of 777,106 shares, compared to its average volume of 1,953,882. The company has a debt-to-equity ratio of 32.51, a current ratio of 6.03 and a quick ratio of 84,866.00. The stock has a market capitalization of C$61.47 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 1.33 and a beta of 0.79. Sun Life Financial has a one year low of C$77.38 and a one year high of C$114.53. The stock’s 50-day moving average price is C$104.50 and its two-hundred day moving average price is C$94.34.

Sun Life Financial (TSE:SLF) (NYSE:SLF) last announced its quarterly earnings results on Wednesday, May 6th. The financial services provider reported C$1.89 EPS for the quarter. The company had revenue of C$8.73 billion during the quarter. Sun Life Financial had a return on equity of 12.89% and a net margin of 9.12%. Equities analysts forecast that Sun Life Financial will post 6.9230769 EPS for the current year.

Insider Transactions at Sun Life Financial

In related news, insider Melissa Jane Kennedy sold 7,366 shares of Sun Life Financial stock in a transaction dated Monday, May 25th. The shares were sold at an average price of C$101.49, for a total transaction of C$747,575.34. Following the completion of the transaction, the insider directly owned 13,916 shares of the company’s stock, valued at approximately C$1,412,334.84. The trade was a 34.61% decrease in their position. Also, insider Linda Dougherty sold 3,500 shares of Sun Life Financial stock in a transaction dated Monday, May 25th. The stock was sold at an average price of C$101.40, for a total transaction of C$354,900.00. In the last ninety days, insiders have sold 380,998 shares of company stock worth $38,271,605. 0.03% of the stock is currently owned by insiders.

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. Sun Life generates about a third of its profit from asset-management operations.